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

_IMF Staff Country Reports, July 15, 2019_

## Source details

**Canonical URL:** [Singapore: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore](https://www.imf.org/en/publications/cr/issues/2019/07/15/singapore-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-47119)

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## Bibliographic details
- Published: July 15, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498326667.002

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### Growth outlook
- Singapore’s growth is expected to continue to moderate as export momentum slows and growth drivers shift back to domestic demand.
- Over the medium term, modern services are expected to become increasingly important in driving growth.

### Risks to the outlook
- Risks to the near-term outlook are tilted to the downside and arise mainly from external sources.

### Policy priorities and recommendations
- 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.

### Structural reforms and implementation
- The authorities are implementing measures to turn Singapore into a global innovation hub.
- Efforts are being redoubled to boost labor productivity through investment in human, physical and organizational capital, and digitalization.
- Singapore is emerging as a regional leader in fintech, supported by Monetary Authority of Singapore.
- Social policies are being updated, with the aim of raising wages and standards of living for lower-skilled Singaporeans.

### Subject areas and keywords
- Subject: Banking, Expenditure, Fiscal policy, Fiscal stance, Inflation, Labor, Labor markets, Prices
- Keywords: core inflation, CR, Fiscal stance, Global, Inflation, ISCR, Labor markets, macroeconomic performance, mas core inflation, resolution framework, resolution unit, Singapore, Singapore dollar, Singapore economy

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_Source: https://www.imf.org/en/publications/cr/issues/2019/07/15/singapore-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-47119_