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© Reuters. File photo: In the file photo on February 21, 2013, the Monetary Authority of Singapore (MAS) logo is located in its building in Singapore.REUTERS/Edgarsu/File Photo
SINGAPORE (Reuters)-Singapore’s central bank governor Ravi Menon reiterated on Wednesday that unless the global economy suffers, Singapore’s economic growth this year may exceed the upper limit of the official forecast range of 4% to 6%.
The managing director of the Monetary Authority of Singapore (MAS) said in a speech at the same time as the statement issued by the central bank: “With the increase in global demand and the further progress of our vaccination plan, the overall economy should recover in the second half of this year.” Annual Report .
Menon said that in the first quarter of 2021, the Singapore economy has recovered the total output losses caused during the pandemic.
Officials predict that Singapore’s trade-dependent economy will grow by 4% to 6% this year, recovering from the recession triggered by the COVID-19 pandemic in 2020, the worst on record.
As international trade dwarfs its domestic economy, this city-state is often regarded as a weather vane for global growth.
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