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Singapore maintains 2021 GDP forecast as economy contracts 5.4% last year, less than advance estimates

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Singapore has maintained its growth forecast for 2021 at 4 to 6 per cent after an improved earlier estimate for last year’s gross domestic product (GDP), said the Ministry of Trade and Industry (MTI) on Monday (Feb 15).

The economy shrank by 5.4 per cent in 2020, slightly better than the advance estimate of a 5.8 per cent contraction and above the Government’s forecast range of -6 to -6.5 per cent.


Source: CNA

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