The city-state’s economy grew 7.2% in 2021, preliminary data showed on Monday, broadly in line with the government’s official projection and rebounding from the record 5.4% contraction in 2020.
The financial and transport hub, often seen as a bellwether of global growth, has staged a rocky recovery as governments around the world shift their coronavirus strategies to living with the pandemic, away from “zero-COVID” policies.
Singapore’s annual gross domestic product growth was the fastest since a 14.5% expansion in 2010, when the economy emerged from the global financial crisis.
The government has previously said it expects GDP to grow 3% to 5% in 2022.
According to reuters.com