Daily briefing: SG’s GDP likely to exceed 4-6% forecast; SG tightens measure for travellers from Australia

And power and gas tariff to increase between July and September.

From CNA

The Monetary Authority of Singapore (MAS) projected the gross domestic product will exceed the 4-6% forecast, despite continuing challenges posed by the pandemic.

MAS Managing Director Ravi Menon said the economy will likely recover in the second half of the year, driven by stronger global demand as well as Singapore’s vaccination programme. He noted than economic conditions will be affected, should the COVID-19 mutate at a faster rate.

Menon added the recent tightening of measures due to the resurgence of the virus is expected to have a setback in segments, such as retail, food and beverage and land transport services amongst others.

Read more here.

From CNA

The Singapore government has imposed stricter border measures for those arriving from Australia, following a rise on COVID-19 cases.

Singaporeans, permanent residents and long-term pass holders, who have stayed in Australia within 21 days from their scheduled flight will need to undergo a COVID-19 test upon arrival.

They will then be subjected to a 7-day quarantine at home and another test at the end of the stay-home period.

Read more here.

From CNA

Electricity and gas tariff impose on Singapore households will be increased from July to September this year.

Electricity tariff will be increased by an average of 3.8% over the three-month period. This was driven by the higher cost of fuel, the SG Group.

Moreover, gas tariff will also be raised by 0.4 cent per kWh to 18.47 cents, CityGas said separately.

Read more here.

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Monetary Authority of Singapore

GDP

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