World

Singapore maintains forecast for economic growth at 1-3% in 2024

Singapore maintained its forecast for the economy to grow 1-3% in 2024, as it warned that downside risks to the global economy remain significant.
Singapore maintains forecast for economic growth at 1-3% in 2024 ảnh 1An overview of Singapore (Photo: Internet)

Hanoi (VNA) – Singaporemaintained its forecast for the economy to grow 1-3% in 2024, as it warned thatdownside risks to the global economy remain significant.

For2023, the economy grew 1.1%, slowing from the 3.8% expansion in 2022, theMinistry of Trade and Industry said on February 15. The figure was below the1.2% the official estimate made in January.

The ministry saidSingapore’s external demand outlook for 2024 has remained largely unchangedsince its last review in November.

However, the global economy still faces seriousdownside risks. These include the Israel-Hamas conflict, the lagged effects ofmonetary tightening stressing regional economies with external funding needs,and idiosyncratic cost shocks that could weaken the economic recovery momentum./.

VNA
#global economy #Vietnamplus #Vietnam News Agency #Ministry of Trade and Industry #Israel-Hamas conflict #monetary tightening #external demand outlook Singapore
Follow VietnamPlus

Related News

Singapore’s economy grows by 0.4% in Q1

Singapore’s economy grows by 0.4% in Q1

Singapore’s economy grew by 0.4% on a year-on-year basis in the first quarter of 2023, lower than the 2.1% expansion in the previous quarter, the Ministry of Trade and Industry announced on May 25.
Singapore fintech investment dims last year

Singapore fintech investment dims last year

Singapore's fintech sector amassed total funding of 2.2 billion USD in 2023, down 68% year-on-year, according to a report issued by accountancy giant KPMG on February 6.

See more

Thailand–EU FTA talks advance in Brussels

Thailand–EU FTA talks advance in Brussels

The two sides agreed to expedite FTA negotiations and work toward resolving outstanding issues in agricultural products, industrial goods, government procurement, energy and raw materials, digital trade, and regulatory matters, including intellectual property.

Indonesia attracts 5.8 billion USD in foreign inflows after rate hikes

Indonesia attracts 5.8 billion USD in foreign inflows after rate hikes

Data from the central bank showed that after recording net foreign outflows in the first quarter of 2026, Indonesia's government bond market rebounded with net inflows of 17.7 trillion IDR. Meanwhile, cumulative foreign investment in Bank Indonesia Rupiah Securities reached 174 trillion IDR.

Firefighters strive to extinguish a forest fire in Kampar of Indonesia's Riau province on July 20, 2025. (Photo: Xinhua/VNA)

Indonesia strengthens forest fire prevention mechanisms

Under the approach, competent agencies will review existing regulations, strengthen inspections of fire prevention and firefighting systems, and implement measures including weather modification through cloud seeding, monitoring water levels in peatland areas, and pre-positioning personnel and equipment in high-risk locations.

Malaysia moves to enact landmark climate change law

Malaysia moves to enact landmark climate change law

Once passed, the bill will make Malaysia the second ASEAN country, after the Philippines, to enact a dedicated climate change law, and the 60th country in the world to have a standalone legal framework in this area.

Indonesia shifts strategy to combat online gambling

Indonesia shifts strategy to combat online gambling

Minister of Communication and Digital Affairs Meutya Hafid announced on July 14 that the new strategy marks a shift from focusing primarily on blocking gambling websites to a more comprehensive approach targeting the entire criminal ecosystem.

Passengers at the international airport in Bangkok, Thailand (Photo: Xinhua/VNA)

Thailand adjusts visa policy to balance tourism and security

The adjustments aim to ensure that entry facilitation measures for foreign visitors reflect current circumstances while closing security loopholes, preventing misuse, and reducing overlapping entitlements under the principle of “one country, one entitlement”.

​Indonesia's Finance Minister Purbaya Yudhi Sadew (Photo: VNA)

S&P retains Indonesia's BBB credit rating with stable outlook

According to S&P, Indonesia's economic fundamentals remain solid thanks to prudent fiscal and monetary policies, political stability, relatively low public debt compared with other countries in the same rating category, and positive medium-term growth prospects.

A port in Singapore. The country's GDP expanded by 5.7% year-on-year in the April–June period, easing from the 6.3% growth recorded in the first quarter (Photo: Xinhua/VNA)

Singapore's economic growth slows amid Middle East conflict

Singapore's core inflation remained unchanged at 1.4% in May from the previous month. However, economists warned that persistently high energy prices could continue to push up production and transportation costs, as well as the prices of imported goods, posing risks to the country's economic growth outlook.