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Singapore Has Strong Fiscal Results

Updated on Monday 18th September 2017

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Singapore-has-strong-fiscal-resultsSingapore is one of the wealthiest countries in the world in terms of per-capita income which attracted good ratings from credit rating agencies during the years. The latest rating was issued by Moody’s Investors Service at the beginning of August when the agency also commended Singapore for its strong fiscal results. The city-state is currently one of the most stable economies in the world, so if you want to start a business here, our Singapore company formation experts can guide you through the registration procedure.

Singapore has a stable credit profile, according to Moody’s

Which reflects the latest economic results which indicate diversity, competitiveness and strong fiscal metrics. Moreover, Singapore has some of the most robust institutions in the world and one of the highest income per capita. The combination between these factors determined Moody’s to rate Singapore Aaa with a stable outlook.

At the moment, Singapore has one of the strongest export industries at regional level, however domestic demand is lower than the external one, which is why the government has enabled various assistance schemes for households. Even so, the central authorities made sure these schemes did not come in contradiction with the fiscal framework by encouraging higher debts.

Moody’s also applauded Singapore for the continuous restructuring of the economy and the growing labor productivity.

Moody’s predicts a stable outlook for the Singapore economy

After the economy rose to 2.7% during the first half of the year, Moody’s predicts an overall economic growth of 2.5%, which right at the middle of the government’s projections of 2-3%.  The agency relies it affirmation on the growing exports which will continue helping the economy.

Singapore’s credit profile for the year 2017 looks like this, according to Moody’s:

  • -          very high in terms of economic strength;
  • -          very high in terms of institutional strength;
  • -          very high in terms of fiscal strength;
  • -          very low in terms of susceptibility to event risk.

Foreign enterprisers are invited to contact our Singapore company formation consultants if they want to find out more on the reasons for investing in the Lion City. They can also rely on us if they want to set up companies in Singapore.

 

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