Economists optimistic about Singapore’s economic outlook in 2021
Economists of Singapore are more optimistic about the outlook for the country’s economy next year, with a survey showing that they expect growth of 5.5 percent on average in 2021, said the Monetary Authority of Singapore (MAS) on September 7.
Economists expect Singapore's growth of 5.5 percent on average in 2021 (Photo: AP)
Singapore (VNA) – Economists ofSingapore are more optimistic about the outlook for the country’s economy nextyear, with a survey showing that they expect growth of 5.5 percent on average in2021, said the Monetary Authority of Singapore (MAS) on September 7.
Overall, the 28 economists who responded tothe MAS survey gave economic growth forecasts of between 4 percent and 5.9percent for 2021. This is higher than the 4.8 percent growth for the year thatthey had forecast when last surveyed in June.
While the respondents are more positiveabout next year, they are slightly more pessimistic about 2020. The economistsnow expect the economy to contract by 6 percent as a whole this year. In June,they had forecast a 5.8 percent decline for 2020.
According to the economists, the top riskto Singapore’s growth outlook is a further deterioration of the COVID-19situation.
The escalation of tensions between the USand China was also identified as a risk, they noted, along with aslower-than-expected global economic recovery./.
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Economists expect Singapore's growth of 5.5 percent on average in 2021 (Photo: AP) 
