Singapore's economy is projected to grow by 4.5% to 5.5%. Singapore's Ministry of Trade and Industry announced on August 11 that the economy is now expected to expand between 4.5%-5.5% this year, up from the previous 2%-4% forecast. This revision follows higher-than-expected growth in the first half, driven by strong global artificial intelligence (AI) investment and AI-related manufacturing and exports. In the second quarter, Singapore's economy grew 5.9% year-on-year, contributing to a 6.1% year-on-year growth in the first half of the year. Generated by AI