{
  "title": "Singapore: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore",
  "publication": "IMF Staff Country Reports, July 16, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/07/16/singapore-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-462216",
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  "summary": "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.",
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    {
      "heading": "Executive summary",
      "content": "- Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing longer-term challenges.\n- The economy has been severely impacted by the pandemic, but a bold, comprehensive, and coordinated policy package has helped cushion the economic fallout.\n- Following a record contraction in the first half of 2020, activity has rebounded, and growth is projected to strengthen to 6 percent in 2021.\n- The uncertainty surrounding the outlook is larger than usual."
    },
    {
      "heading": "Economic outlook and projections",
      "content": "- Growth projection: 6 percent in 2021.\n- Recovery drivers: rebound in domestic demand and a positive contribution from net exports.\n- Noted risk: unusually large uncertainty around the outlook."
    },
    {
      "heading": "Policy assessment and response",
      "content": "- Authorities implemented a bold, comprehensive, and coordinated policy package that helped cushion the economic fallout from COVID-19.\n- Entered the pandemic with sizable policy space and robust economic policy frameworks, which supported the response."
    },
    {
      "heading": "Thematic coverage (subjects and keywords)",
      "content": "- Subjects: COVID-19, External position, Financial sector policy and analysis, Financial soundness indicators, Fiscal policy, Health, Inflation, International investment position, International organization, Monetary policy, Prices.\n- Keywords: bond issuance, COVID-19, currency speculation, Financial soundness indicators, Global, green finance market, headline inflation, Inflation, International investment position, Singapore authorities, U.S. dollar.\n\n---\n\n Content in this bundle\n\n- 1sgpea2021001\n  - 1sgpea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1sgpea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 16, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513586038.002",
    "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.",
    "The uncertainty surrounding the outlook is larger than usual.",
    "Growth projection: 6 percent in 2021.",
    "Recovery drivers: rebound in domestic demand and a positive contribution from net exports.",
    "Noted risk: unusually large uncertainty around the outlook.",
    "Authorities implemented a bold, comprehensive, and coordinated policy package that helped cushion the economic fallout from COVID-19.",
    "Entered the pandemic with sizable policy space and robust economic policy frameworks, which supported the response.",
    "Subjects: COVID-19, External position, Financial sector policy and analysis, Financial soundness indicators, Fiscal policy, Health, Inflation, International investment position, International organization, Monetary policy, Prices.",
    "Keywords: bond issuance, COVID-19, currency speculation, Financial soundness indicators, Global, green finance market, headline inflation, Inflation, International investment position, Singapore authorities, U.S. dollar.",
    "**1sgpea2021001**"
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