Singapore economists have identified rising inflation as a possible cause of concern, after raising the inflation forecast for this year.
They also raised Singapore’s 2011 growth forecasts, primarily attributed to the robust performance in the first quarter of this year, according to the survey of 21 economists by the Monetary Authority of Singapore.
It also revealed that the median forecast of economists for inflation is 4.1 percent, which is slightly higher than the four percent they forecasted in March and the government’s own prediction of between three and four percent.
The poll of economists also showed that growth should come in at approximately 6.2 percent, which is within the government’s own five percent to seven percent range.
Several economists noted that increases are expected given that the country’s economy has grown 8.3 percent, which is stronger than most had anticipated.
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