Question

Ms Mariam Jaafar: To ask the Minister for Trade and Industry what assessment has been made of the effects of (i) the end of the global inflationary surge over the past few years and (ii) a turn in the electronics cycle, on Singapore’s economic recovery prospects and consumer confidence.

Written Answer by Minister for Trade and Industry Gan Kim Yong

1. MTI and MAS have projected that Singapore’s GDP growth will come in at 1.0% to 3.0%, while CPI-All Items inflation will average 3.0% to 4.0% in 2024. These projections take into account global inflation trends and an expected recovery in the electronics cycle this year.