China’s economic reopening not enough to beat slowing global growth: IMF

A Reuters report showed that Singapore and ASEAN nations are affected.

International Monetary Fund (IMF) experts revealed Singapore and its Southeast Asian neighbours may see decline in its full year growth due to muted global growth even as China declared its reopening.

A Reuters report showed that the IMF reduced Singapore’s economic growth outlook for 2023 to 1.5% from the 2.3% forecast issued last October.

The IMF's 2023 forecast for five ASEAN nations - Singapore, Malaysia, Vietnam, Indonesia and the Philippines - was reduced to 4.3% from 4.5% in the October forecast. The fund's 2024 forecast was also down by 0.2 percentage point to 4.7%.

Recent reports from analysts also showed that the slow global growth will also impact banks.

Read the Reuters report here.

Follow the link for more news on

Singapore inflation

Also Read

Mixed views on MAS policy for 1H25 as Singapore faces inflation and growth risks

Economy grows 4.1% YoY in Q3 as manufacturing, services expand

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!

I want to download the media kit

Top News

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Institution of Engineers sets up new board to promote faster chartership registration

The board will also promote upskilling for engineering professionals.

Building & Engineering

Changi Airport Group boosts logistics capacity with new Nexus One facility

It will house two tenants including Expeditors.

Transport & Logistics

MoM underscores tripartite efforts to safeguard workers following Dyson layoffs

The ministry urges companies to work with unions.

HR & Education

Exclusives

Lorem Ipsum Singapore Business Review

The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.

Agribusiness

1 day ago

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Lorem Ipsum 2