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• The regulatory approval of Guardant360 CDx in Singapore will be crucial in improving cancer diagnosis and effective treatment for the disease in the country.
• We expect to see more approvals of Guardant360 CDx in key markets such as the US, Asia-Pacific and Europe, supported by Guardant Health’s partnerships with targeted oncology

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• The upcoming presidential election in Singapore is unlikely to affect its accolade of being one of the most politically stably countries in the world, reflected by its score of 95.6 out of 100 in our Short-Term Political Risk Index.
• The president has limited discretionary powers in Singapore under the Westminster political system

Key View: We forecast real household spending in Singapore will grow by 1.5% y-o-y over 2023, a slowdown from 7.2% y-o-y growth in spending recorded in 2022. High-frequency data show retail sales have recorded the highest growth since August 2022, largely due to the easing cost of living. While unemployment remains stable, continued elevated cost

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• After the Singapore economy edged out real GDP growth of just 0.1% y-o-y in Q123, we at Fitch Solutions have lowered our 2023 forecast to 1.4%, from 2.1% previously.
• Global monetary conditions have continued to tighten more than we previously expected, and this will weigh more heavily on the export-oriented manufacturing sector

Key View: We forecast that Singapore's total electric vehicle (EV) fleet (including plug-in hybrid vehicles, PHEVs) will reach just under 131,500 units by the end of our 2023-2032 forecast period, representing an EV penetration rate of 14.3%. We note that the wealthy population in Singapore could see EV adoption accelerate over the long term as

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• Singapore’s health expenditure is set to decrease in 2023 but will remain higher than pre-pandemic levels.
• Singapore’s government will provide more financial support for the elderly and individuals struggling to pay their medical bills, which will ensure that the country’s healthcare system remains widely accessible.
• The government

Key View: The Singapore Budget presented on February 14 2023 contains multiple announcements that aims to tackling the elevated inflation rate in the country. Financial incentives will help alleviate rising living costs but consumers will still feel the impacts of inflationary pressures, pushing them to prioritise essential spending over

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• The Singapore tourism industry has yet to fully recover post-Covid. However, the market will benefit as Mainland China relaxes travel restrictions for its citizens.
• The projected return of Mainland Chinese travellers will also boost the luxury retail sector in Singapore, as the city was a key global centre for luxury shopping before

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• At Fitch Solutions, we have lowered our 2023 real GDP growth forecast for Singapore to 2.1%, from 2.6% previously.
• This follows after advance estimates showed that growth slowed to 2.2% y-o-y in Q422, from 4.2% in the previous quarter, which brought full-year growth to 3.8% in 2022, slightly below our projection of 4.0%.
• Looking

From 2 to 4 November 2022, Singapore held the Fintech Festival 2022, an event where the global FinTech community could “engage, connect, and collaborate on issues relating to the confluence of financial services, public policy and technology”. In this article, we provide our views on some of the announcements made during the festival.

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