Singapore's Economy Predicted to Grow Faster in 2024

It may seem like the dark clouds looming over Singapore's post-pandemic economy in 2023 might finally dissipate in 2024, but that does not mean that people should stop being prepared for rain. Experts are predicting that the Republic's economy will grow faster this year by between 1 to 3 per cent, in line with official estimates and a notable increase from the sluggish 1.2 per cent growth recorded in the whole of 2023.

And when it comes to inflation, economic forecasters are also singing a different tune now compared to the start of 2023. Whereas most said that the rise in prices were expected to persist in 2023, they now expect inflation in 2024 to cool slightly. With global headwinds continuing to cause uncertainties, and the fully implemented hike in the Goods and Services Tax (GST) and increases to other charges keeping household costs elevated, experts say high prices will remain “sticky

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