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Economics

Singapore Sees 2023 Growth as Low as 0.5% Amid Global Headwinds

  • 3Q growth lower than initially seen, 2022 forecast narrowed
  • Singapore sees risks including slowing US, China’s Covid-Zero
Singapore sees the economy expand by 0.5-2.5% in 2023.

Singapore sees the economy expand by 0.5-2.5% in 2023.

Photographer: Lauryn Ishak/Bloomberg
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Singapore expects economic growth to decelerate sharply next year amid a global slowdown, even as the city-state ruled out a recession.

Gross domestic product growth will probably slow to between 0.5% and 2.5% in 2023, according to estimates released by the Ministry of Trade and Industry Wednesday.