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Economic Conditions of Singapore


Over the past years, Singapore has been confronted with a lot of financial problems, in particular on the failure to realize set goals and objectives. The country planned for an economic growth rate of about 2 to 3 percent per annum, and an economy which does not depend on the foreign labor. This idea has not been realized in the country due to several factors. According to Nomura Global Research Analysis, the shrink in the economy could continue at a percentage rate 2.1%

According to the research, her reduction in the production I the country is expected to continue for the next years, especially because of the fall  in the global growth; the increase in the aging population in the country, and an the tightened financial conditions especially due to the hiking cycle of interest rates of  the United States of America. There has also been an increase in the debt funding, with debt accounting for 78% if the country’s GDP. Therefore, this discussion will focus on the analysis of the factors that hinder the economic growth of Singapore. It will also give the analysis of the possible breakthrough from those financial hindrances.

 Economic Problems Facing Singapore

Several economic challenges affect Singapore. Among these difficulties include:

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