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Economists hopeful China’s reopening may cushion Singapore’s slowdown

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Sharon See

Sharon See

Published Tue, Jan 3, 2023 · 07:59 PM
    • The recovery in international travel and tourism, particularly with China's border reopening, may help cushion Singapore's economic slowdown in 2023, economists say.
    • The recovery in international travel and tourism, particularly with China's border reopening, may help cushion Singapore's economic slowdown in 2023, economists say. PHOTO: ALPHONSUS CHERN, ST

    SINGAPORE’S economy is poised for modest growth this year against a global economic slowdown, although China’s reopening may help to cushion the impact, economists said.

    This comes as the Republic’s gross domestic product (GDP) moderated to 3.8 per cent in 2022, according to advance estimates from the Ministry of Trade and Industry (MTI) on Tuesday (Jan 3), compared with the 7.6 per cent clocked the year before when the economy rebounded from the Covid-19 pandemic.

    Nonetheless, it was a slight improvement over the official forecast of “around 3.5 per cent” that MTI had narrowed to in November last year.

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