{
  "title": "Singapore: 2022 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Singapore",
  "publication": "IMF Staff Country Reports, July 21, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/07/20/singapore-2022-article-iv-consultation-press-release-staff-report-and-statement-by-the-521048",
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  "summary": "This 2022 Article IV Consultation discusses that Singapore’s skillful containment measures, effective vaccination campaign and decisive policy support helped the economy to recover impressively.",
  "sections": [
    {
      "heading": "Overview and near-term outlook",
      "content": "- Singapore’s skillful containment measures, effective vaccination campaign and decisive policy support helped the economy to recover impressively.\n- Growth is expected to remain above potential in the near term and broaden across sectors, supported by widespread vaccinations and pent-up demand as the economy reopens."
    },
    {
      "heading": "Financial stability and housing market",
      "content": "- The tight macroprudential stance should be maintained, and further tightened as needed.\n- The authorities’ plans to ramp up housing supply would help ensure a soft landing in residential real estate prices and prevent a further rise of systemic financial risks."
    },
    {
      "heading": "Fiscal policy and buffers",
      "content": "- Should downside risks materialize, Singapore can continue to deploy its ample fiscal buffers to cushion the economic impact.\n- Targeted fiscal support should continue to be the first line of defense."
    },
    {
      "heading": "Policy priorities and reforms",
      "content": "- The authorities are pivoting to post-pandemic and longer term priorities.\n- Recent initiatives, included as part of the FY2022 budget, to accelerate transition toward a smarter, greener, and more inclusive economy post-pandemic are welcome."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Environment, Fiscal policy, Health, International organization, Monetary policy, Prices, Taxes\n- Keywords: bond issuance, Carbon tax, Climate change, core inflation, COVID-19, currency speculation, Fiscal stance, Global, Inflation, inflation momentum, money market rate, policy support, Singapore dollar, Singapore economy\n\n---\n\n Content in this bundle\n\n- 1sgpea2022001\n  - 1sgpea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1sgpea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 21, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400214950.002",
    "Singapore’s skillful containment measures, effective vaccination campaign and decisive policy support helped the economy to recover impressively.",
    "Growth is expected to remain above potential in the near term and broaden across sectors, supported by widespread vaccinations and pent-up demand as the economy reopens.",
    "The tight macroprudential stance should be maintained, and further tightened as needed.",
    "The authorities’ plans to ramp up housing supply would help ensure a soft landing in residential real estate prices and prevent a further rise of systemic financial risks.",
    "Should downside risks materialize, Singapore can continue to deploy its ample fiscal buffers to cushion the economic impact.",
    "Targeted fiscal support should continue to be the first line of defense.",
    "The authorities are pivoting to post-pandemic and longer term priorities.",
    "Recent initiatives, included as part of the FY2022 budget, to accelerate transition toward a smarter, greener, and more inclusive economy post-pandemic are welcome.",
    "Subjects: Environment, Fiscal policy, Health, International organization, Monetary policy, Prices, Taxes",
    "Keywords: bond issuance, Carbon tax, Climate change, core inflation, COVID-19, currency speculation, Fiscal stance, Global, Inflation, inflation momentum, money market rate, policy support, Singapore dollar, Singapore economy",
    "**1sgpea2022001**"
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