Economists expect Singapore to grow 2.6% this year, near the midpoint of the government's forecast range, a survey by the central bank published on Wednesday showed, with geopolitical and trade tensions seen as the biggest downside risks.

The median forecast for 2025's growth came from 20 economists surveyed last month by the Monetary Authority of Singapore (MAS), and was unchanged from the December quarter survey. Singapore's economy grew 4.4% in 2024.

The trade ministry has estimated the economy will grow between 1.0% and 3.0% this year.

The MAS loosened monetary policy in January on the back of expected slower inflation and growth this year.

Less than one-fifth of economists saw the central bank easing policy again at its April review, while about 30% anticipate a policy change at the review in July, the survey showed.

Headline inflation and core inflation for 2025 were forecast at 1.7% and 1.5%, respectively, both lower than the median forecasts in the previous survey.

The MAS has forecast core inflation will average 1.0% to –2.0% in 2025. In January, the annual core inflation rate was 0.8%, the lowest rate in more than three years.

The survey was conducted in mid-February, after the release of fourth-quarter GDP data.