, Singapore

Singapore economy to retain outlook despite GST rate hike: Moody's

Moody’s Analytics expects the economy to grow by 4.6% in 2022.

Moody’s Analytics stood its ground as the research group kept its projected economic growth at 4.6%. 

This follows last week's announcements by the Singapore government and its budgets, such as a planned GST hike in 2023, green ambitions, and pandemic-related support.

The current outlook also falls within the current projection of the trade ministry between 3% to 5%, with the current Omicron wave also expected to not hit the economy. 

According to Denise Check, Moody’s Analytics, author of the analysis, this is due to a higher vaccination rate and rollouts of booster shots. The year is also expected to see the country focusing instead on curbing rising inflation pressures and other long-term priorities. 

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!