Singapore 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Singapore
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Singapore 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Singapore
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-16
Singapore 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Singapore written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-16 with Business & Economics categories.
Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing longer-term challenges. The economy has been severely impacted by the pandemic, but a bold, comprehensive, and coordinated policy package has helped cushion the economic fallout. Following a record contraction in the first half of 2020, activity has rebounded, and growth is projected to strengthen to 6 percent in 2021, underpinned by a recovery in domestic demand and a positive contribution from net exports. The uncertainty surrounding the outlook is larger than usual.
Singapore
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2023-08-29
Singapore written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-29 with Business & Economics categories.
Singapore’s post pandemic recovery is nearly complete; underpinned by its strong economic fundamentals and the authorities’ decisive policies. While overall output surpassed pre-COVID levels in 2021, the growth momentum has slowed and activities in consumer-facing (except retail) and construction sectors remain below pre-pandemic levels. Inflation remains elevated but has started moderating. Risks to the outlook are tilted to the downside, arising mainly from an abrupt global slowdown or a recession in Singapore’s largest trading partners, tighter global financial conditions, and a deepening of geoeconomic fragmentation.
Singapore
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2019-07-15
Singapore written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-15 with Business & Economics categories.
The 2019 Article IV Consultation with Singapore analyses that Singapore’s growth is expected to continue to moderate as export momentum slows and growth drivers shift back to domestic demand. Risks to the near-term outlook are tilted to the downside and arise mainly from external sources. Over the medium term, modern services are expected to become increasingly important in driving growth. The report highlights that policies should be geared toward addressing the challenges to growth and inequality posed by shifts in the global economy, aging, and technological change, which could also promote external rebalancing. Policies have been aimed at boosting growth while promoting greater equity. The authorities are implementing measures to turn Singapore into a global innovation hub, redoubling efforts to boost labor productivity through investment in human, physical and organizational capital, and digitalization. Singapore is also emerging as a regional leader in fintech, supported by Monetary Authority of Singapore. Meanwhile, social policies are being updated, with the aim of raising wages and standards of living for lower-skilled Singaporeans.
Singapore
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2022-07-21
Singapore written by International Monetary Fund. Asia and Pacific Dept and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-21 with Business & Economics categories.
Singapore registered one of the most impressive recoveries from the pandemic, with economic output having surpassed pre-crisis levels at end-2021. This was spurred by the country’s strong economic fundamentals, an impressive vaccination rollout, and the authorities’ decisive policy responses. However, the recovery has been uneven with activities in tourism-related, consumer-facing and construction sectors remaining well below pre-pandemic levels. Inflation has risen rapidly due to higher food and energy, private transport, and housing prices, but inflation expectations remain well anchored. Risks to the outlook are tilted to the downside, arising mainly from the war in Ukraine and the related sanctions, the pandemic, China’s growth slowdown, and monetary policy normalization in advanced economies.
Singapore
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2016-07-29
Singapore written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-29 with Business & Economics categories.
This 2016 Article IV Consultation highlights that Singapore’s economy continues to perform well despite being hit by a combination of cyclical and structural factors, originating both at home and abroad. Growth moderated from 3.3 percent in 2014 to 2 percent in 2015, and it was 2.2 percent in the first half of 2016. Unemployment has remained low, but net employment generation slowed rapidly in 2015, and headline inflation has stayed below zero since late 2014. Growth is projected to moderate slightly to 1.7 percent in 2016 as the full impact of the global shocks experienced in 2015 is felt, and is expected to recover to 2.2 percent in 2017.
Singapore
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-27
Singapore written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-27 with Business & Economics categories.
Singapore’s economy is on a strong cyclical upswing. Economic growth has recovered to a three-year high, led by externally-oriented sectors that benefitted from the synchronized global expansion. Economic momentum is becoming more broad-based, helping to reduce the labor market slack. Growth is expected at or above the potential rate in the near term, increasingly supported by domestic demand. Inflation is subdued but expected to rise modestly. The current account surplus, as a share of GDP, has remained large. Risks to the near-term outlook are broadly balanced and come mainly from external sources. Over the medium term, the structural transformation aimed to prepare Singapore for challenges from technological changes globally and population aging at home should help support higher productivity.
Australia 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Australia
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-12-06
Australia 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Australia written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-06 with Business & Economics categories.
Strong health and economic policies allowed for quick economic recovery from initial COVID-19-related lockdowns in 2020. Renewed outbreaks and lockdowns have created setbacks since mid-2021, with disproportionate impacts on some regions, sectors, and workers. Accommodative macroeconomic policies have been instrumental in cushioning the economic impact.
Georgia 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Georgia
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-21
Georgia 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Georgia written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-21 with Business & Economics categories.
High frequency estimates suggest a V-shaped recovery with output now poised to return close to 2019 levels already this year, much earlier than expected. Recently COVID-19 case numbers have risen sharply to new highs while vaccinations have also accelerated significantly after a slow start. The recovery has improved the fiscal outlook and the authorities submitted to Parliament a supplementary budget, with GEL 1.2 billion in additional spending roughly equivalent to the expected increase in revenues. The National Bank of Georgia (NBG) has increased the policy rate by 200 basis points to deal with high inflation driven by lagging effects of depreciation, commodity and food price increases, and supply side constraints.
Philippines 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Philippines
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-08-06
Philippines 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Philippines written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-06 with Business & Economics categories.
The economy is recovering after a major, pandemic-induced economic downturn. The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability. The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections. Vaccination has started and is poised to accelerate from midyear.
Singapore
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2014-10-17
Singapore written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-17 with Business & Economics categories.
KEY ISSUES Outlook and risks. Following an upturn in 2013, growth is expected to moderate somewhat during 2014-2015, narrowing the positive output gap. The impact of recovering demand in advanced economies is likely to be offset by the ongoing real appreciation of the currency and the gradual tightening in global monetary conditions. Transitional costs related to the economic restructuring (see next paragraph) are also expected to dampen growth in the near term. As a very open economy, Singapore is particularly exposed to external risks related to a protracted period of slower growth in advanced and emerging economies, a continued buildup and eventual unwinding of excess capacity in China, an abrupt surge in financial market volatility as investors reassess underlying risks, and geopolitical risks. Medium- and long-term challenges. The authorities focus squarely on the implementation of their medium-term economic restructuring plan. With the aim to boost the productivity of labor and land, the plan could set the stage for a new era of sustainable growth. However, productivity improvements may take some time to materialize. For example, the slowing inflow of foreign workers, a key part of the reform agenda, could moderate potential growth and lower competitiveness in light of the tight labor market. The social safety net is being strengthened in the context of a rapidly aging population. Policy assessment. Singapore continues to implement a strong set of macroeconomic and financial sector policies. The moderately tight monetary policy remains appropriate but the fiscal stance is looser than would be warranted by cyclical considerations. The 2014 budget focuses on noncyclical considerations, including support for companies’ efforts to raise productivity and additional social spending on healthcare for the elderly. The authorities’ plan to raise social and infrastructure spending by 1-2 percent of GDP over the medium term should help reduce the large current account surplus. Financial regulation and supervision is among the best globally and Singapore is a frontrunner in implementing global regulatory reforms. Macroprudential policies have contributed to cool the housing and car permit markets and good progress has been made in implementing key short•term FSAP recommendations.