Posted on October 30, 2017

QNB Group has published the Singapore Economic Insight 2017. The report examines recent developments and the outlook for the Singaporean economy.

Singapore is a highly open economy and its exports should benefit from firming global trade over the next three years. As a result, real GDP growth is expected to accelerate to an average of 2.6% over 2017-2019. Inflation is expected to exit deflationary territory in 2017, rising to 0.7%, and should continue to strengthen to 1.1% in 2018 and 1.5% in 2019. The improvement in inflation is expected to be driven by higher commodity prices and a gradual recovery in the housing market.

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The government is expected to continue its fiscal easing stance, reducing the consolidated fiscal balance to an average of 1.9% of GDP over 2017-19. Higher spending is aimed at stimulating domestic demand to counteract headwinds such as continued population ageing. The current account is expected to remain relatively stable at an average of 19.0% over the forecast horizon, supported by robust trade as a result of rising external demand. While the capital and financial account should remain broadly stable as Singapore’s current account surpluses continue to be invested abroad.

Other recent QNB Economic Insight reports include China, India, Indonesia, Jordan, Kingdom of Saudi Arabia, Kuwait, Oman, Qatar and the United Arab Emirates and are available on the QNB Group website. QNB Group operates in 31 countries across 3 continents and its economic reports leverage its knowledge of these markets to provided added value for its clients and counterparties. QNB Group Rising global trade 3 [].jpg