Fitch ratings on the powerhouse at the tip of Malaysia
- Says Singapore's 'AAA' rating reflects strong external balance sheet, which is supported by substantial current account surpluses, sound fiscal framework
- Expects GDP to expand by 3.4% in 2018, forecasts GDP growth to stabilise at around 3.2% in 2019 and 2020
- Says over the medium term, continued recovery in the oil and gas sector could have positive spillover effects on growth in Singapore
- Estimate Singapore's net foreign assets will be close to 76% of GDP at end-2018, significantly above historic 'AAA' median of -7.5%
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Srsly, I don't know what Fitch are thinking.
Each year they should just make one announcement, cut and paste this:
- Singapore, its all good
There, done. YW.
