Singapore maintains this year’s GDP outlook

Expanding economy: People walk along Marina Bay against the skyline of the business districts in Singapore. GDP for the city-state is projected to expand 3% to 5% this year. — AFP

SINGAPORE: Singapore reaffirmed its 2022 economic growth forecast, and raised its reading for last year, as its recovery from the pandemic stabilises and it seeks to ease virus restrictions.

Gross domestic product (GDP) is projected to expand 3% to 5% this year, the Ministry of Trade and Industry said yesterday, reiterating its November estimate. It also upgraded 2021 growth to 7.6%, from an earlier 7.2%.