Singapore economic growth could surpass 6% in 2021, but disparate recovery expected across sectors : MAS

Singapore’s economy may just stage a better-than-expected recovery this year, after posting its worst recession on record in 2020.

The Monetary Authority of Singapore (MAS) estimates that the republic’s Gross Domestic Product (GDP) “could exceed” 6%, or the upper end of the official forecast range for this year, barring a setback in the global economic recovery or surge in the locally transmitted coronavirus infections.

The improved outlook follows stronger external demand, the central bank highlighted its half-yearly macroeconomic review update on Apr 28.