Singapore: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore

Author: International Monetary Fund. Asia and Pacific Dept

Volume/Issue: Volume 2026 Issue 185

Publication date: July 2026

ISBN: 9798229054072

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Topics covered in this book

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Exports and Imports , Inflation , Labor , Economics- Macroeconomics , exchange rate arrangement , FSAP discussion , fund holding , inflation expectation , FSAP participation , intervention currency , Inflation , Labor markets , Fiscal stance , Middle East , Global , Asia and Pacific

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Summary

Singapore has been navigating elevated global uncertainty from a position of strength. Growth reached 5.0 percent in 2025, driven by AI-related exports and healthy domestic demand. Taking account of the impact of the war in the Middle East, growth is projected to slow and inflation to rise in 2026. Risks to growth and inflation are tilted to the downside and upside, respectively, mainly stemming from a possible reescalation of geopolitical tensions. Additionally, a rise in global trade tensions or a potential bust of the global AI boom would negatively affect Singapore’s export-oriented economy.