SINGAPORE - The Monetary Authority of Singapore (MAS) expects this year's economic growth to come in at 2.5 per cent or "a touch lower", bringing it closer to its potential.
"This is not a bad outcome," said MAS managing director Ravi Menon.
"It will bring the level of GDP closer to its potential. There is no need to stimulate the economy."
He explained at the Citibank Asia Pacific Investors Conference on Wednesday (Feb 27) that the Singapore economy is "moderating towards a more sustainable pace" in line with the global economy.
The economy did well last year (2018) by growing 3.2 per cent but Mr Menon expects external demand to be softer this year, "reflecting slower global GDP growth and the maturing of the global tech cycle".