Singapore expects its economy to continue recovering in 2022, with global growth projected to remain positive. It will announce its growth forecast in November. Parliament has been told that countries are ramping up COVID-19 vaccination efforts, which should facilitate the resumption of economic activities in the coming months. Singapore’s GDP expanded at a faster-than-expected 7.7% in 1H2021, prompting the Trade and Industry Ministry to raise full-year growth estimate to between 6% and 7%.
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