{
  "title": "Singapore: 2024 Article IV Consultation — Press Release; Staff Report; and Statement by the Executive Director for Singapore",
  "publication": "IMF Staff Country Reports, July 31, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/07/30/singapore-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-552788",
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  "summary": "The 2024 Article IV Consultation with Singapore highlights that following a slowdown in 2023, growth is projected to recover gradually to 2.1 percent in 2024. After reaching 6.1 percent in 2022, inflation has steadily declined to 2.7 percent in April 2024.",
  "sections": [
    {
      "heading": "Growth and inflation outlook",
      "content": "- Growth is projected to recover gradually to 2.1 percent in 2024 following a slowdown in 2023.\n- Inflation peaked at 6.1 percent in 2022 and has steadily declined to 2.7 percent in April 2024.\n- The pace of disinflation has been gradual, with signs of persistent price pressures including from a tight labor market."
    },
    {
      "heading": "Risks and vulnerabilities",
      "content": "- With risks to global growth now broadly balanced, downside risks to the growth outlook have diminished relative to last year.\n- Singapore remains vulnerable to a deepening of geo-economic fragmentation.\n- Inflation risks remain tilted to the upside.\n- Vigilance warranted against pockets of financial-sector vulnerabilities, including potential systemic risks arising from the housing market."
    },
    {
      "heading": "Fiscal, monetary, and macroprudential stance",
      "content": "- The broadly neutral fiscal stance relative to 2023 will complement the tight monetary policy stance in achieving price stability.\n- Targeted support to vulnerable households and firms is recommended to provide temporary relief from high costs of living and business.\n- Singapore’s financial sector remains resilient with solid capital and liquidity buffers.\n- The current tight macroprudential policy stance is judged to remain appropriate given identified vulnerabilities.\n\n---\n\n Content in this bundle\n\n- 1sgpea2024001-print-pdf\n  - 1sgpea2024001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1sgpea2024001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 31, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400285974.002",
    "Growth is projected to recover gradually to 2.1 percent in 2024 following a slowdown in 2023.",
    "The pace of disinflation has been gradual, with signs of persistent price pressures including from a tight labor market.",
    "With risks to global growth now broadly balanced, downside risks to the growth outlook have diminished relative to last year.",
    "Singapore remains vulnerable to a deepening of geo-economic fragmentation.",
    "Vigilance warranted against pockets of financial-sector vulnerabilities, including potential systemic risks arising from the housing market.",
    "The broadly neutral fiscal stance relative to 2023 will complement the tight monetary policy stance in achieving price stability.",
    "Targeted support to vulnerable households and firms is recommended to provide temporary relief from high costs of living and business.",
    "Singapore’s financial sector remains resilient with solid capital and liquidity buffers.",
    "The current tight macroprudential policy stance is judged to remain appropriate given identified vulnerabilities.",
    "**1sgpea2024001-print-pdf**"
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