DBS says Singapore economy is at a crossroads.
Concerns about falling growth and the need to stay relevant in a fast-changing global environment are leading major economies including Singapore to review medium- and longer-term growth strategies. This is made all the more important by a rapidly aging population. New growth strategies are being sought. As a matter of fact, recommendations from the Committee on the Future Economy (CFE) due later this year will be keenly watched.
Irvin Seah, economist at DBS Group Research put together the following charts to better explain why Singapore economy is finding itself at a crossroads - growth is moderating as the economy matures and the population continues to age.
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