Singapore's GDP growth projection for 2025 upgraded, but outlook uncertain
Singapore has upgraded its full-year economic outlook, with the Trade and Industry Ministry raising GDP growth forecast to between 1.5 and 2.5 per cent, up from zero to two per cent. But it warns the outlook for the rest of the year remains uncertain, with global growth likely to slow as US reciprocal tariffs take effect. Barnabas Gan, Group Chief Economist at RHB Bank, discusses the trade headwinds we can expect with US tariffs now in effect.
Singapore has upgraded its full-year economic outlook, with the Trade and Industry Ministry raising GDP growth forecast to between 1.5 and 2.5 per cent, up from zero to two per cent. But it warns the outlook for the rest of the year remains uncertain, with global growth likely to slow as US reciprocal tariffs take effect. Barnabas Gan, Group Chief Economist at RHB Bank, discusses the trade headwinds we can expect with US tariffs now in effect.
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