Economy
COVID-19 weighs on deflationary pressures for 2020
COVID-19 weighs on deflationary pressures for 2020
But MAS kept its inflation forecasts to 0.5-1.5%.
Core inflation hit 0.3% in January
This was blamed on lower services inflation and a steeper drop in the cost of retail.
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Government balance to remain in “healthy surplus” in 2020
The city’s public finances remain sound despite a higher budget deficit.
Singapore trails New Zealand in ease of doing business
It had the best environment for enforcing contracts.
Household income inequality fell to eight-year low in 2019
Median household income rose 1.4% to $9,425 in 2019.
SARS playbook may slump currency to 2017 lows
MAS re-centered the policy band lower for the currency amidst the SARS outbreak in 2003.
NODX tipped to drop 1% in 2020
It could worsen if the COVID-19 outbreak becomes more widespread.
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Budget deficit hit $1.7b in FY 2019
This translates to 0.3% of the GDP.
Singapore Budget 2020 Full Coverage: COVID-hit sectors to get $4b and GST hike moved to 2025
The budget deficit could hit $5.1b in 2020, the government injects $1.6b into the CPF Housing Grant, and $1b gets pumped into cybersecurity measures.
Fiscal deficit to hit two decade-high in 2020
The economic effects of the COVID-19 outbreak demanded a much bigger stimulus.
GDP expanded 0.7% in 2019
The slower growth was partly driven by the manufacturing sector contracting 1.4%.
GDP growth forecast revised down to 0.5% for 2020
This falls at the lowest end of the earlier official forecast announced last November.
Total merchandise trade down 3.2% to $1t in 2019
This is blamed on oil trade as it fell 13.9% in 2019 amidst lower oil prices.
Daily Briefing: Budget to include package to ease household costs amidst COVID-19; Binance applies for crypto licence
And 72% of internet users in Singapore are mobile gamers.From Channel News Asia:
Malaysia GDP slows to 3.6% YoY in Q4 2019
Downturns in crude petroleum and natural gas segments triggered the lag.
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