By increasing its 7% goods and services tax, which was last raised in the go-go days of 2007, the city-state’s economy will mark a return to business as usual. When Singapore’s goods and services tax last went up in 2007, the city’s economy was basking in the warm glow of sizzling global growth. The SARS […]
Read MoreSINGAPORE has held the forecast for key exports in 2022, in the wake of downgrades to international economic and trade growth forecasts. The latest update came even as non-oil domestic exports (NODX) expanded by 12.1 per cent year on year in 2021, beating official estimates of a 9.5 per cent to 10 per cent increase. […]
Read MoreSINGAPORE’S economy in 2021 grew 7.6 per cent year-on-year, even faster than an advance estimate of 7.2 per cent, according to data from the Ministry of Trade and Industry (MTI) on Thursday (Feb 17) morning. This is a turnaround from the previous year when Singapore saw its worst recession. In 2020, the economy contracted 4.1 per […]
Read MorePrime Minister Hun Sen has urged Singapore to encourage more investors to do business in Cambodia. The encouragement was made during the courtesy meeting between the Cambodian Premier and visiting Singapore Foreign Minister Dr. Vivian Balakrishnan, at the Peace Palace Wednesday. Hun Sen also asked both sides to boost their two-way trade and consider cooperation […]
Read MoreSINGAPORE exports opened the year on a strong note, with non-oil domestic exports (NODX) up by 17.6 per cent year on year in January. The latest trade print, which exceeded private-sector analysts’ forecast of 12.4 per cent, was mainly due to shipments of non-electronics such as ship structure, specialised machinery and petrochemicals, trade agency Enterprise […]
Read MoreCOVID-19 support measures boosted gross domestic product (GDP) in 2021 by 0.8 percentage points and kept resident unemployment 4 percentage points lower than it would have been otherwise in the same year, a paper by the Ministry of Finance (MOF) has found. Singapore’s economy in 2021 grew 7.6 per cent year on year, while annual […]
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