People take photos at Singapore’s Marina Bay last month. The city state’s economic performance is often seen as a useful barometer because of its reliance on trade with the rest of the world. Photo: Xinhua
Singapore’s economic growth slows as global headwinds mount
- Singapore’s economy grew by 3.8 per cent last year – more than expected but much slower than the 7.6 per cent rise enjoyed in 2021
- Elevated interest rates, declining household savings, high inflation and falling exports are all expected to hurt growth in the year ahead
People take photos at Singapore’s Marina Bay last month. The city state’s economic performance is often seen as a useful barometer because of its reliance on trade with the rest of the world. Photo: Xinhua
