Singapore’s medium term growth rate moderating to 3%

IMF said yesterday that it sees Singapore's medium term growth rate moderating to 3% given the lower rate of labour force growth. 

It warned of the downside risks, including 
A prolonged slowdown in global economy and financial risks in China; 
Elevated indebtedness in the household and corporate sectors which could amplify the impact of external shocks; and 
The economic restructuring programs fall short of delivering the desired investment and productivity gains. 

IMF added that as a whole, Singapore's "strong macroeconomic fundamentals could help absorb shocks and facilitate and effective countercyclical policy response".

"For USD-SGD, it is holding around the 1.3690 level and a supportive tone is expected in near term. Our year-end target is 1.42", says Commerzbank.