Monday, Apr 27, 2015Monday, Apr 27, 2015

MTI sticks to 1-3% growth forecast for the year

Published on Feb 22, 2013 9:25 AM
Office and bank towers, and glass-clad skyscrapers in the Singapore Central Business District on March 7, 2012. The outlook for Singapore's economy this year is cautiously upbeat, after it ended last year on a brighter note than expected, the Ministry of Trade and Industry (MTI) said yesterday. -- ST FILE PHOTO: ALPHONSUS CHERN

The Ministry of Trade and Industry (MTI) maintained its 2013 GDP growth forecast at between 1 and 3 per cent.

"The global macroeconomic conditions have stabilised in recent months against the backdrop of improved financial market conditions. Nevertheless, global economic growth is likely to remain subdued," it said.

It also maintained its expectatations of exports to grow between 2 and 4 per cent this year.

The economy grew 1.5 per cent in the fourth quarter compared to a year ago, according to figures announced by MTI this morning.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!