EARLIER this year, the asset markets, namely those related to property and stocks, were among the star performers of the Singapore economy. But the outlook for these markets is less clear in the coming months as risk aversion among investors lingers amid the global financial market turmoil. Despite the uncertainty, the Monetary Authority of Singapore (MAS) is still keeping to previously announced...
Singapore Economy
WITH 2007 drawing to a close, Singapore’s economy looks set to end the year on a high. The Monetary Authority of Singapore — which is due to release its semi-annual Macroeconomic Review and monetary policy statement today — has said that it expects the economy to grow between 7 and 8 per cent this year. And yesterday, Prime Minister Lee Hsien Loong told some 1,000 unionists and delegates at the...
IT was the “goblin” that wreaked havoc on markets the world over but come Oct 31, investors may be celebrating Halloween for more reasons than one. The goblin that is the impact of the United States sub-prime mortgage problems could go away as early as then, and growth would return by year-end in time for Christmas, said Mr Ken Fisher, CEO of Fisher Investment. Saying the sub-prime spook had been...
WITH just four months to go before 2007 draws to a close, private-sector economists have given the economy the thumbs up, predicting that the Republic will power ahead with 7.5-per-cent growth this year. This is up from an estimate of 6 per cent in the last Monetary Authority of Singapore (MAS) survey in June. And next year, Singapore could enjoy economic growth of 6.5 per cent, up from a previous...
If it seemed to you that seeing the doctor or eating out is becoming more expensive of late, you were spot on. Inflation rose at the fastest pace in 12 years last month — as the Goods and Services Tax (GST) hike kicked in, food costs rose and rents soared. The Consumer Price Index (CPI) rose 2.6 per cent from a year earlier after rising 1.3 per cent in June, the Department of Statistics said yesterday....
Singapore’s economy has the potential to grow by 4 to 6 percent annually over the next 5 to 10 years, says the Trade and Industry Ministry. Giving this upbeat assessment a day after Prime Minister Lee Hsien Loong spoke of the country’s vibrant growth, the Ministry says this reflected the effects of economic reforms over the last 5 years. These reforms enabled actual growth to average 6.1 percent per...
Now that the fireworks are over, here comes a reality check. While the fanfare is over how a sparkling first half will lift the entire year’s economic showing — the Government announced on Friday that the GDP expanded by 8.6 per cent year-on-year in the second quarter — a growing monster halfway round the world is threatening to gatecrash Singapore’s party. The pundits call it the “United...