Singapore: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore
IMF Staff Country Reports, July 16, 2025
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- Singapore: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore
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Bibliographic details
- Published: July 16, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229017930.002
Growth outlook
- Following an acceleration to 4.4 percent in 2024, growth is projected to sharply slow to 1.7 percent in 2025.
- Primary drivers of the slowdown: recent trade tensions and elevated global uncertainty.
Inflation outlook
- Inflation is projected to remain well below 2 percent in 2025.
- Factors cited: low tradable inflation and increasing slack in the economy.
Risks and uncertainties
- Risks to growth are firmly tilted to the downside.
- Main downside channels: potentially escalating global trade tensions and tightening global financial conditions.
- Net risks to inflation are also tilted to the downside, largely reflecting the downside growth risks.
- Upside risks to inflation noted: supply chain disruptions.
Subjects and keywords
- Subject: Financial institutions, Fiscal policy, Fiscal stance, Inflation, Labor, Labor markets, Loans, Prices
- Keywords: article IV consultation discussion, Asia and Pacific, Europe, Fiscal stance, FSAP participation, FSAP update, Global, Inflation, intervention currency, Labor markets, Loans, R&D ecosystem
International Monetary Fund. Asia and Pacific Dept "Singapore: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore", IMF Staff Country Reports 2025, 192 (2025), accessed 8/19/2026, https://doi.org/10.5089/9798229017930.002
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- 1sgpea2025001-source-pdf