- June 4, 2021
- Posted by: avantconsulting
- Category: Singapore Economy
Singapore Economy grows for fastest rate in a year – Singapore met with one of the its worst years in a decade.
The Covid-19 pandemic has caused the economy to slow down abruptly and Singapore has not be spared.
Being an open economy that relies on trade. With lockdowns around the world. Singapore slowed down by a lot.
Singapore has recently went back to growth with the rest of the world slowly recovering and Covid-19 restrictions slowly lifting.
The Singapore Ministry of Trade and Industry is estimating a 4-6% growth for Singapore this 2021.
We believe in the long term, there will be a stronger recovery to the economy and this will translate to a better business climate going forward.
With more vaccinations done, Singapore will open up its economy to move travelers and the growth rates will start coming.
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