MAS expects slower growth in Singapore’s financial sector
Central bank says major impact from tariffs has yet to emerge at release of annual report
The Monetary Authority of Singapore (MAS) has said it expects growth in the country’s financial sector to slow.
Speaking on July 15 at the launch of the central bank’s annual report, its managing director Chia Der Jiun said the sector had grown by 6.8% in 2024, compared with 3.1% the previous year. Chia said the sector’s average growth rate between 2021 and 2024 had been 4.7%, which meant it had met the MAS’s target of 4–5% annual growth during this period.
“Looking ahead, we do not expect
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