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Singapore: 2012 Article IV Consultation; Staff Report, Informational Annex, Public Information
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2012: Issue 248
Language:
English
Publication Date:
27 Aug 2012
DOI:
https://doi.org/10.5089/9781475504873.002
ISBN:
9781475504873
ISSN:
1934-7685
Pages:
53
Keywords:
ISCR; CR; Singapore dollar; headline inflation; fund; core inflation; U.S. dollar; inflation expectation; Core CPI inflation; output gap; Singapore-dollar proceeds; growth performance; credit growth; Inflation; Loans; Credit; Income; Unemployment; Global; Asia and Pacific
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Singapore’s large financial sector has remained resilient. The output has shown to rebound strongly despite a drop of 9 percent in GDP during 2008-early 2009. The new challenges include consumer price inflation, income inequality, and rising housing prices. The downside risks for the Singapore economy are large, but the country has large buffers and significant policy room to dampen the immediate and longer-term effects of a sharp global slowdown. The authorities have ample policy space and instruments to address the negative impact of economic shocks.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund