## Singapore: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore

_IMF Staff Country Reports, July 16, 2021_

## Source details

**Canonical URL:** [Singapore: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore](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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## Bibliographic details
- Published: July 16, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513586038.002

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### Executive 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.
- 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.

### Economic outlook and projections
- 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.

### Policy assessment and response
- 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.

### Thematic coverage (subjects and keywords)
- 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.

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_Source: 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_