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Singapore's economic growth to hit 3% to 5% in 2022; inflation still a pressing concern

Amala Balakrishner
Amala Balakrishner4/28/2022 12:00 PM GMT+08  • 4 min read
Singapore's economic growth to hit 3% to 5% in 2022; inflation still a pressing concern
Singapore’s economy is seemingly on track to continue its expansionary path in the coming quarters, following the government’s major step in treating Covid-19 as endemic. (Image credit: Bloomberg)
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Singapore’s economy is seemingly on track to continue expanding in the coming quarters despite the ongoing tensions between Russia and Ukraine and the resultant impact on global supply chains.

The optimism follows the major easing of domestic safe management measures and borders restrictions as the republic moves toward treating Covid-19 as endemic, the Monetary Authority of Singapore (MAS) highted in its half-yearly macroeconomic review on Apr 28.

"Domestic demand, particularly private consumption as well as public infrastructure investment, would be the main source of growth in 2022,” it flagged.

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