Singapore: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore
IMF Staff Country Reports, July 29, 2016
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- Singapore: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore
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Bibliographic details
- Published: July 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475521047.002
Overview
- The 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.
Economic performance and indicators
- Growth:
- 3.3 percent in 2014
- 2 percent in 2015
- 2.2 percent in the first half of 2016
- Labor market:
- Unemployment has remained low
- Net employment generation slowed rapidly in 2015
- Inflation:
- Headline inflation has stayed below zero since late 2014
- Identified factors affecting performance:
- Combination of cyclical and structural factors, originating both at home and abroad
Projections
- 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
- Growth is expected to recover to 2.2 percent in 2017
Subjects and keywords (as listed)
- Subjects: Aging, Banking, Expenditure, Financial institutions, Fiscal policy, Inflation, Loans, National accounts, Population and demographics, Prices, Private investment
- Keywords: Aging, bond issuance, Core CPI inflation, core inflation, CR, currency speculation, Global, headline inflation, IMF's transparency policy, Inflation, ISCR, Loans, mas core inflation, monetary policy easing, Private investment, Singapore, Singapore dollar, Singapore economy