Singapore forecasts 6.5% growth this year 

(MENAFN) The Monetary Authority of Singapore said in a statement that Singapore's economy will rebound from last year's recession as manufacturing and construction fuel growth, Bloomberg reported.

The city-state's gross domestic product will likely grow 6.5 percent this year, according to the median forecast of 20 economists in the quarterly survey conducted by the central bank.

In the previous survey in December, analysts had expected the economy would grow 5.5 percent this year.

Singapore's economy, which relies on trade, finance and tourism, will likely be led this year by a 9.7 percent expansion of the manufacturing sector and an 8.9 percent jump in construction, the analysts said.

The government expects the economy will grow between 4.5 percent and 6.5 percent this year after a 2 percent contraction last year.