Singapore raises 2026 growth forecast to 4.5%-5.5%
The upgrade follows 5.9% second-quarter GDP growth and marks the second increase this year, supported by a surge in global AI spending.
Singapore raised its 2026 economic growth forecast to 4.5-5.5 percent, from 2-4 percent previously, after first-half performance beat expectations. The Ministry of Trade and Industry Singapore said gross domestic product in the first half rose 6.1 percent year on year, while the economy expanded 5.9 percent in the second quarter, slightly above an initial estimate of 5.7 percent, though slower than 6.3 percent in the first quarter. Second-quarter growth was supported by manufacturing, wholesale trade, and finance and insurance. The government said a surge in global investment tied to AI is providing a strong lift to electronics, precision engineering, and exports. Risks remain from conflict in the Middle East, additional United States tariffs, and inflationary pressure.