Singapore’s trade-dependent economy will experience healthy growth in 2021. Domestic activity should return, driven by a pick-up of consumption, meanwhile a resurgence in the external sector will occur as the global pandemic subsides. Investment will also return to growth. Economic growth should continue in 2022, albeit at a lower rate. Real GDP should increase by 3.6% in 2022 and about 2.0% per year in 2025-2028.
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