MTI Singapore

2022-08-11 05:17:42 Economic Survey of Singapore 2Q 2022

In the second quarter of 2022, the Singapore economy grew by 4.4 per cent on a year-on-year basis. In the first half of the year, the economy expanded by 4.1 per cent year-on-year.

Taking into account the performance of the Singapore economy in the first half of 2022, as well as the latest global and domestic economic developments, Singapore’s GDP growth forecast for 2022 has been narrowed to “3.0% to 4.0%”, from “3.0% to 5.0%”.

Read the full report here: https://bit.ly/3Pclo1z Open / Comment

2022-07-26 06:43:51 Consumer Price Developments - June 2022

The economic environment remains challenging, due to protracted supply disruptions as a result of the Russia-Ukraine conflict and the regional pandemic situation, which have fuelled global inflationary pressures.

In Singapore, Consumer Price Index (CPI)-All Items inflation rose to 6.7% year-on-year in June, while MAS Core Inflation came in at 4.4% year-on-year over the same period.

Inflation is likely to remain elevated in the months ahead. The Government will continue to monitor the situation closely, and provide businesses and households with further support if necessary.

Read the full CPI report here: https://go.gov.sg/cpi-june2022 Open / Comment

2022-07-04 07:04:17 As a country with no natural resources, Singapore relies on energy imports. We have therefore been affected by global energy price movements.

Amidst the uncertain energy landscape and rising costs in general, DPM Lawrence Wong announced a $1.5 billion support package to provide targeted relief for households and businesses.

To find out more, check out our infographic and visit https://go.gov.sg/jun-pr-support-package Open / Comment

2022-06-24 08:42:21 Consumer Price Developments - May 2022

Global inflation has remained high amidst elevated global commodity prices and supply chain disruptions driven by the Russia-Ukraine conflict and the regional pandemic situation.

In Singapore, the Consumer Price Index (CPI)-All Items inflation rose to 5.6% year-on-year in May, while the MAS Core Inflation came in at 3.6% year-on-year over the same period.

The Government has rolled out a $1.5 billion support package to provide targeted and immediate relief to households and businesses, and will continue to monitor the situation closely.

Read the full CPI report: https://bit.ly/3Ohpcih
Learn more about the support package: https://go.gov.sg/jun-pr-support-package Open / Comment

2022-06-21 15:27:24 Amidst rising global inflation, the Government has announced a S$1.5 billion support package to provide targeted and immediate relief to households and businesses. This builds on the support measures announced in Budget 2022 and April 2022.

For businesses, the Government is rolling out new and enhanced measures to help businesses cope with rising energy costs, and additional support for local enterprises with cashflow concerns.

Read more at https://go.gov.sg/jun-pr-support-package. Open / Comment

2022-05-26 04:52:52 Consumer Price Developments - April 2022

Global inflation has remained elevated amidst the Russia-Ukraine conflict and supply disruptions.

In Singapore, the Consumer Price Index (CPI)-All Items inflation stayed at 5.4% year-on-year in April, while the MAS Core Inflation rose to 3.3% year-on-year over the same period.

The Government will continue to monitor inflation trends closely, and provide further support to businesses and households in need.

Find out more in the full CPI report: https://bit.ly/38JFbqc Open / Comment

2022-05-25 07:29:00 Economic Survey of Singapore 1Q 2022

In the first quarter of 2022, the Singapore economy grew by 3.7% on a year-on-year basis. The GDP growth forecast for 2022 has been maintained at 3.0 to 5.0 per cent, with growth likely to come in at the lower half of the forecast range.

Read the full report here: https://bit.ly/39S9Hyj Open / Comment

2022-04-26 12:30:41 Around the world, consumer prices have been increasing over the last few months. Global inflation is expected to remain high for some time. In Singapore, the Consumer Price Index (CPI) for All Items rose by 5.4% year-on-year (y-o-y) in March, compared to the 4.3% increase in the previous month.

The Government continues to monitor closely the inflation experienced by Singaporean households and is providing support to businesses and households in need. Read more on the support measures here:

• MOF Budget 2022: https://bit.ly/3LcxF4U
• MTI COS 2022: https://bit.ly/3vlCOlX Open / Comment

2022-04-22 14:56:34 Updates to Border Measures

With effect from 26 April 2022, all fully vaccinated travellers and non-fully vaccinated children aged 12 and below arriving via air or sea checkpoints will no longer be required to take a pre-departure test (PDT) before departing for Singapore.

From 1 May 2022, fully vaccinated non-Malaysian Work Permit Holders from specific sectors no longer need to apply for approvals to enter Singapore.

Entry requirements for non-fully vaccinated travellers remain unchanged.

Visit https://safetravel.ica.gov.sg for more details. Open / Comment

2022-04-22 14:17:00 Updates to Safe Management Measures (SMMs)

The Multi-Ministry Taskforce has announced further easing of community SMMs with effect from 26 April 2022.

Vaccination-Differentiated SMMs (VDS) will also be removed from all settings except for the highlighted settings that are assessed to pose higher risks of transmission.

Visit https://bit.ly/3s6Drhd for more details. Open / Comment