Singaporean newspaper notes swift recovery forecast for local economy

VOV.VN - Singaporean property website has cited a recent report by Maybank Kim Eng, Malaysia's largest bank, which confirms that both the Vietnamese and Singaporean economies have enjoyed a V-shape recovery, far faster than expected and better in comparison with other nations in the region.

According to Maybank’s economists, several factors have served to boost the economic recovery process in both countries, including the introduction of subsidies from the Government, low interest rates, high household savings, and work from home policies.

Furthermore, Maybank emphasised that the Vietnamese economy is rare in ASEAN as it has escaped the risk of recession. Indeed, the country’s purchasing management index (PMI) has witnessed much faster and stronger growth than other regional countries. It can therefore be considered that the driving force behind the nation’s V-shape recovery is largely down to exports, retail, and freight transportation.

Moreover, some of the factors which supported the faster-than-expected recovery of the Singaporean economy were real estate transactions, along with strong growth in semiconductor manufacturing and exports.