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IMF cuts Singapore's 2019 growth forecast to 0.5%

Amala Balakrishner
Amala Balakrishner 10/23/2019 07:32 PM GMT+08  • 4 min read
IMF cuts Singapore's 2019 growth forecast to 0.5%
SINGAPORE (Oct 23): The International Monetary Fund (IMF) has slashed its 2019 growth prediction for Singapore to 0.5%, down from its previous estimate of 2% in July.
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SINGAPORE (Oct 23): The International Monetary Fund (IMF) has slashed its 2019 growth prediction for Singapore to 0.5%, down from its previous estimate of 2% in July.

This is the second downward revision by the IMF, which had forecast a 2.3% growth for the city state in its World Economic Outlook in April.

Amid an uncertain global economic outlook plagued by the downturn in electronics and exports, Singapore officials currently forecast a growth rate of between 0% and 1% this year.

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