Singapore's economy will grow by 5.5 percent next year, putting an end to the nation's worst recession ever, according to a survey of the Monetary Authority of Singapore (MAS).
Singapore's economy will grow by 5.5 percent next year, putting an end to the nation's worst recession ever (Photo: straitstimes.com)
Singapore (VNA) – Singapore's economy will grow by 5.5 percentnext year, putting an end to the nation's worst recession ever, according to a surveyof the Monetary Authority of Singapore (MAS).
The pace of growth can be even higher if successful vaccine deploymentworldwide can effectively contain the COVID-19 pandemic, economists said.
Analysts said other factors that could impact Singapore's growth trajectorynext year would include the upswing of the electronics cycle and the pace ofrecovery in other regional economies such as Malaysia, Indonesia and China.
The prospect of reopening borders to international travel was also seen as apotential upside.
The forecast comes after Singapore’s Ministry of Trade and Industry (MTI) saidlast month growth will rebound between 4 percent and 6 percent next year - themost since 2011 when the economy grew 6.3 percent.
However, the MTI expects the economy to shrink 6 percent to 6.5 percent thisyear.
The unemployment rate is forecasted to be 3.7 percent at the end of the year,up from their previous prediction of 3.5 percent.
Meanwhile, private residential property prices are projected to pick up in theOctober-to-December period./.
Singapore has given US start-up Eat Just the green-light to sell its lab-grown chicken meat, in what the firm says is the world’s first regulatory approval for so-called clean meat that does not come from slaughtered animals.
Singapore and China signed ten agreements on health, food safety and environment, among other things, at their 16th Joint Council for Bilateral Cooperation (JCBC), the highest-level bilateral meeting between the two countries.
From mid-2021, users of Singapore's PayNow and Thailand's equivalent PromptPay will be able to send money instantly and securely across the two countries with their mobile phone numbers at competitive rates, according to Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).
Singaporean Minister for Trade and Industry Chan Chun Sing and UK Secretary of State for International Trade Elizabeth Truss signed a bilateral free trade agreement on December 10.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
Singapore's economy will grow by 5.5 percent next year, putting an end to the nation's worst recession ever (Photo: straitstimes.com) 
