The review is published twice yearly in April and October, in conjunction with the release of the MAS monetary policy statement (MPS). The review looks at the analysis and assessment of macroeconomic developments in the Singapore economy by the Economic Policy Group (EPG) and shares with market participants, analysts and the wider public, the basis for the policy decisions conveyed in the MPS. It also features in-depth studies undertaken by the EPG as well as guest contributors, on the broader issues facing the Singapore economy.
Singapore’s gross domestic product (GDP) growth is projected to be at the lower half of the 0.5% to 1.5% range that was forecasted for 2023, says the Monetary Authority of Singapore (MAS). This is in spite of the sequential pick-up in GDP in the 3Q2023 after stalling in the first three quarters of the year.
“There were signs of convergence (in y-o-y terms) among the broad clusters, with some recovery in the external-facing sectors, even as growth in the domestic-oriented sectors moderated. In the coming quarters, these adjustments are expected to continue, barring major shocks to the external economies,” the central bank added in its Macroeconomic Review published on Oct 30.
