MAS also sees the prospects for Singapore’s economy to continue improving in 2024, while retaining its earlier projection for gross domestic product growth of between 1%–3%.
Singapore's economy expanded at a faster pace in the fourth quarter on the back of growth in manufacturing and construction output but a less favorable external environment poses risks to the outlook.
Singapore narrowed its growth projection for the current year citing subdued foreign demand but the pace of expansion is forecast to improve next year with the recovery in global economies.
SINGAPORE, Oct 6 Singapore’s digital economy has experienced strong growth, contributing an estimated 17.3 per cent of the republic’s gross domestic product (GDP) in 2022,.