The analysts predict that growth will be propelled by domestic demand, thanks to an easing of restrictions and better export numbers for companies.
Analysts from RHB have penciled a 4% y-o-y growth rate for Singapore’s Gross Domestic Product (GDP) this year.
“As Singapore continues its efforts to inoculate the remaining population, and press forward with the reopening of the economy – particularly in terms of revitalizing the struggling travel-related sector – contributions to GDP growth from the various sectors will become less lopsided and the recovery will be more broad-based,” Alexander Chia, Andrey Wijaya, Kasamapon Hamnilrat and Shekhar Jaiswal write in a Jan 13 note.
