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China Business News 2022-11-24 11:18:39
Editor in charge: Zhu Mengyun
According to Xinhua News, the Ministry of Trade and Industry of Singapore issued an announcement on the 23rd, predicting that the Singapore economy will grow by 0.5% to 2.5% in 2023, and the growth rate will further slow down compared with 2022. The announcement said that considering the 4.2% growth of Singapore’s economy in the first three quarters of this year, as well as the recent domestic and international situation, it is expected that Singapore’s economy will grow by about 3.5% this year, far lower than the 7.6% in 2021. The Ministry of Trade and Industry believes that the growth rate of most major economies in the world in 2023 will further slow down compared with 2022, and the economic growth rate of the United States and the euro zone is expected to decrease significantly. In addition, global supply chain disruptions may persist until 2023.
Singapore’s economy may slow further in 2023
According to Xinhua News, the Ministry of Trade and Industry of Singapore issued an announcement on the 23rd, predicting that the Singapore economy will grow by 0.5% to 2.5% in 2023, and the growth rate will further slow down compared with 2022. The announcement said that considering the 4.2% growth of Singapore’s economy in the first three quarters of this year, as well as the recent domestic and international situation, it is expected that Singapore’s economy will grow by about 3.5% this year, far lower than the 7.6% in 2021. The Ministry of Trade and Industry believes that the growth rate of most major economies in the world in 2023 will further slow down compared with 2022, and the economic growth rate of the United States and the euro zone is expected to decrease significantly. In addition, global supply chain disruptions may persist until 2023.