MAS maintains forecast

MAS maintains forecast

SINGAPORE (Reuter): Singapore's economy is expected to grow by five to seven percent in 1997, the Monetary Authority of Singapore (MAS) said in its 1996/1997 annual report yesterday.

The forecast is in line with the government's previous predictions.

The growth would be led by a recovery in manufacturing exports, continuing strong construction activity and a buoyant financial sector, it said.

"The turnaround in global electronics demand portends a recovery in Singapore's manufacturing sector in 1997," MAS said.