Singapore raises 2026 GDP growth forecast
Singapore, Aug. 12 -- Singapore's GDP growth is projected to grow 4.5-5.5% in 2026, significantly higher than the previous forecast of 2-4%, driven by stronger-than-expected growth in the first half of the year, according to the Ministry of Trade and Industry (MTI). Official data released by MTI show that the country's GDP grew 5.9% year-on-year in the second quarter, easing from 6.3% in the first quarter. On a quarter-on-quarter seasonally adjusted basis, the economy expanded by 1.4%, extending the 1.2% growth in the first quarter. The stronger-than-expected first-half performance prompted MTI to sharply raise its full-year growth forecast. The upgrade reflects the ministry's assessment that momentum from the technology and AI cycle coul...
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