SINGAPORE – Singapore’s economy is projected to increase by 1% to 3% in 2025, but inflation is expected to average between 1.5% and 2.5%, Prime Minister Lawrence Wong told Parliament on Tuesday that he made the 2025 budget It was announced that the company has established the
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Wong, who serves as finance minister, also said that Singapore faces greater global uncertainty and negative risks at the next stage of growth. He said global pressures have put a strain on the economic outlook and as a small, open economy, Singapore will feel the impact, leading to a more gentle outlook for 2025.
The growth forecast is consistent with previous forecasts from the Ministry of Trade and Industry.
Read more: Pre-estimate Singapore’s growth in 2024 has reached 4%
In 2024, Singapore’s economy expanded 4.4%, accelerating from the 1.8% growth recorded in 2023, according to data released by the Ministry of Trade and Industry on Friday.
