Singapore’s economy continues to recover steadily from a sharp contraction in 2020 on the back of effective containment measures, accelerated vaccination rollout, and extended policy support for affected businesses and households, said a report published by the ASEAN+3 Macroeconomic Research Office (AMRO) on Monday.
The AMRO report said that Singapore’s economy is forecast to grow by 6.3 percent in 2021 and 4 percent in 2022, underpinned by the recovery in domestic economic activities and robust exports.
However, the recovery in tourism-related sectors will remain slow due to the continued restrictions on cross-border travel. — Xinhua
