Singapore’s economy is expected to grow 6.5 percent in 2010 from a year earlier, while the Singapore dollar is forecast to rise to 1.35 against the U.S. dollar by the end of the year, a central bank survey showed.
Gross domestic product is expected to jump 9.5 percent in the first quarter of 2010 from a year earlier, after expanding 4.0 percent in the fourth quarter of 2009, the survey of 20 private economists showed.
The currency forecast translates into an appreciation of 3.8 percent from 1.403 to the U.S. dollar at the end of 2009. The economy contracted 2.0 percent in 2009 from 2008.
Non-oil domestic exports are expected to soar 12.3 percent in 2010, compared to a contraction of 10.6 percent in 2009, the survey said.
Annual inflation for 2010 is forecast to accelerate to a median 2.7 percent from last year’s 0.6 percent, said the survey, which does not represent the bank’s own views or forecasts.