Singapore Expects 2% to 3% Economic Growth, Aligning with Potential Rate
Chia Der Jiun, managing director of Singapores Monetary Authority, anticipates that the nations economy will develop at a pace close to its potential,
Chia Der Jiun, managing director of Singapores Monetary Authority, anticipates that the nations economy will develop at a pace close to its potential, between two and three per cent each year. In addition to announcing MASs S$3.8 billion net profit for the 2023–2024 fiscal year, he also noted the asset management sector in Singapore had grown by 10% to S$5.41 trillion in managed assets. Chia also revealed MASs intention to support financial institutions by investing an extra S$100 million in artificial intelligence and quantum technologies. Amid attempts to revive the economy, Singapore is committed to promoting development and innovation and upholding strict regulatory standards in the financial industry, as demonstrated by these measures.
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B2B Tech News | 5 days ago