IMF Cuts Singapore 2023 Growth Forecast on Weak Exports, China Slump

(The Straits Times) — Economic growth in Asia is likely to be 4.6% in 2023, up from 3.9% in 2022, despite a challenging global environment, said the International Monetary Fund (IMF) on Wednesday.

But the IMF lowered its 2023 growth projection for Singapore’s economy to 1% from an earlier estimate of 1.5% in April, as some Asian economies are hit harder by weaker global demand for goods exports and a slowing Chinese economy.