IMF Staff Country Reports

Singapore : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

July 15, 2019

Electronic Access:

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Summary:

Singapore’s macroeconomic performance has been impressive. GDP per capita more than doubled in the last twenty years and income inequality has been declining since the GFC. Policies have been aimed at boosting growth while promoting greater equity. As a highly open economy and an important financial center, Singapore is strongly influenced by developments in the region and the rest of the world. Singapore’s growth is expected to continue to moderate as export momentum slows and growth drivers shift back to domestic demand. Inflationary pressures remain modest. The current account surplus declined in 2019Q1 from a year ago but remains large as a share of GDP. 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.

Series:

Country Report No. 19/233

Subject:

Balance of payments Credit Economic growth Economic indicators Expenditures External sector Financial systems Gross domestic product