Nuhey News

We talk about the MARKET

Fears of a “Technical Recession” once Germany enters recession are present in Singapore.

The Singapore government is monitoring the situation in Germany closely and monitoring the impact on the global economy, including the Singapore economy. The Singapore economic indicators remain strong but there is an acknowledgement that some uncertainties are present.

The Monetary Authority of Singapore (MAS) has said that it expects the economy to slow over the course of 2020 given the uncertainties surrounding the growth prospects in the global economy. But it has also highlighted that the Singapore economy remains buoyant and resilient to external shocks, citing healthy labour market fundamentals and strong growth in services and manufacturing.

At the same time, the MAS is closely monitoring the developments in Germany and has indicated that it is ready to tap international reserves to maintain its currency’s stability given the risks posed by external events.

The Singapore government has also provided stimulus measures to help companies and individuals weather the current economic environment. The hope is that these measures will help to cushion Singaporeans against any turbulence that may arise due to the economic developments in Germany.