Electronics sector to slow down Singapore economy: MAS - Essay Example

The Monetary Authority of Singapore in its half yearly report reviews the problems that are being faced by the country to find out ways and means to overcome the economic problems (Reuters, 2012). The Strategist further expected an ease in Asian economy apart from Japan although inflation is expected to ease slight across Asia excluding Japan as a result of the high base of 2011, there were upside risks to inflation as many economies were currently operating close to potential output (Reuters, 2012).

Due to thriving business in the sectors of tourism and services, the Singaporean country in the year 2010 come out of the lashes of inflationary pressure / economic recessions. The government suggested measures to be adopted to check the rising inflation and to bridge the gap of income in the different layers working class. We all know that Malaysia, South Korea, Thailand and Singapore are the rapidly growing economies of the world. These economies played key role in attracting foreign investments in their respective countries (Reuters, 2012).

According to the economic survey, the Singaporean’s economy bounced back in the year 2010, leaving behind the recession to post 14.7 per cent growth over the entire year. The mentioned growth placed the Singapore amongst the fastest growing economies in the world. If we look at the figures of Singapore Stock Exchange which was closed at the year end on USD 658.8 billion, as compared to previous year of USD 537.1 billion. This figure surpassed the peak figure of 2007 well before the recession happened (Lim, 2011).

The growth in the manufacturing and services sectors are quite visible in rehabilitating the economy in the city state. However, it is undeniable fact that tourism appeared as one of the powerful performer with the assistance of Blue Chip Company named Genting Singapore. The area of operations of cited company is Resorts World Sentosa having new