GDP +7.6% y/y for the full year 2021 (vs. 7.2% in the advance estimate). Best in 10 years.
- 2020 was a contraction at negative 4.1%
Singapore forecast its economy to expand 3-5% in 2022
- officials did flag downside risks to global growth and rising inflationary pressures though
Remarks from SG officials:
- "Global supply bottlenecks remain and are expected to persist throughout the first half of 2022, thereby constraining industrial production and GDP growth in the near term,"
- "Persistent supply bottlenecks, alongside rising energy prices due to geopolitical tensions, have also exacerbated global inflationary pressures,"
