Singapore raises 2021 growth forecast to 6% to 7%, from previous projection of 4% to 6%

On Saturday 22 May 2021, people cycle and walk along a bridge that leads to the Merlion statue in Singapore's Marina Bay.SINGAPORE Singapore's economic growth is expected to be between 6% and 7.7%, according to the trade and industry ministry.The most recent economic forecast shows an improvement over the range of projections of 4% to 6.This revision is due to the fact that the Singapore economy grew by 14.7% in the second half of 2021, compared with a year ago.This is better than the official 14.3% growth forecasts and the 14.2% year on year growth predicted by analysts in a Reuters survey.The trade and industry ministry reported that the economy of Singapore contracted 1.8% in April-to-June compared to the previous quarter.This is breaking news. Keep checking back for more updates.