Singapore Keeps Growth Targets With Economy Set for Reopening
- Government reiterates growth forecast of 3%-5% for this year
- Sees downside risks as virus, supply chain issues continue
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Singapore reaffirmed its 2022 economic growth forecast, and raised its reading for last year, as its recovery from the pandemic stabilizes and it seeks to ease virus restrictions.
Gross domestic product is projected to expand 3% to 5% this year, the Ministry of Trade and Industry said Thursday, reiterating its November estimate. It also upgraded 2021 growth to 7.6%, from an earlier 7.2%.