Singapore Says GDP Outlook Challenged by War, Covid Shocks

(Bloomberg) — Singapore sees its economy expanding at the lower end of its expected range this year as the war in Ukraine and sustained supply chain disruptions due to Covid-19 weigh on the outlook for the trade-reliant city-state.

While reiterating its earlier 3% to 5% growth expectations for 2022, the Ministry of Trade & Industry (MTI) said Wednesday that “the external demand outlook for the Singapore economy has weakened compared to three months ago.”