{"id":32020,"date":"2022-07-22T06:25:14","date_gmt":"2022-07-22T09:25:14","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=32020"},"modified":"2026-04-23T06:36:28","modified_gmt":"2026-04-23T09:36:28","slug":"imf-praises-singapores-response-to-the-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/imf-praises-singapores-response-to-the-covid-19-pandemic","title":{"rendered":"IMF praises Singapore’s response to the Covid-19 pandemic"},"content":{"rendered":"\n

According to the IMF, the country’s economy was helped by a strong vaccination campaign, containment measures, and a robust policy support structure.<\/p>\n\n\n\n\n\n\n\n

Singapore.-\u00a0The International Monetary Fund (IMF)<\/strong> has\u00a0issued a country report on Singapore, praising the country’s approach to the Covid-19 pandemic. The IMF stated: “Singapore\u2019s skilful containment measures, effective vaccination campaign and decisive policy support helped the economy to recover impressively.”<\/p>\n\n\n\n

However, the report notes that despite the country’s progress,\u00a0the economy will most likely not return to pre-pandemic levels by this year<\/strong>. It is estimated that Singapore will have a GDP growth of 3.7 per cent in 2022, although inflation is forecast to be higher than 4.4 per cent.<\/p>\n\n\n\n

Singapore announced the\u00a0reopening of borders to all fully vaccinated travellers<\/a>\u00a0in April. The announcement brought\u00a0a strong growth in the volume of air passengers<\/a>\u00a0arriving in the country.\u00a0<\/p>\n\n\n\n

Authorities have reported that 1.5 million visitors arrived in the country in the first half and they expect the figure will be up by at least two-thirds in the second half of the year.<\/p>\n\n\n\n

Singapore’s casino resorts start to see recovery<\/h2>\n\n\n\n

Marina Bay Sands<\/a> has recently posted net revenue of US$679m, up 107.6 per cent year-on-year. Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose by 184.8 per cent to US$319m.<\/p>\n\n\n\n

Casino revenue increased 124.2 per cent year-on-year to US$500m. Rolling chip volume for VIP play was up 781.4 per cent to just over US$5.39bn. The casino operator reported that the mass-market chip drop was just under US$1.14bn, up 105.6 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to the IMF, the country’s economy was helped by a strong vaccination campaign, containment measures, and a robust policy support structure.<\/p>\n","protected":false},"author":176,"featured_media":16286,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The International Monetary Fund (IMF) has commended Singapore's effective pandemic response, projecting 3.7% GDP growth for 2022 despite higher inflation. Concurrently, Singapore's casino resorts are demonstrating significant recovery, with Marina Bay Sands reporting a 107.6% year-on-year increase in net revenue and a 124.2% rise in casino revenue, driven by substantial growth in both VIP rolling chip volume and mass-market chip drop.","focusai_entities":"International Monetary Fund, IMF, Marina Bay Sands","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP vs. Mass Market","query":"What specific marketing and operational strategies did Marina Bay Sands implement to achieve such a significant rebound in both VIP rolling chip volume and mass-market chip drop post-border reopening?"},{"label":"Regulatory Impact","query":"How might Singapore's projected inflation rate of over 4.4% impact the operational costs and GGR margins for integrated resort operators in the coming fiscal year?"}],"footnotes":""},"categories":[163,16333],"tags":[23907],"class_list":["post-32020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=32020"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32020\/revisions"}],"predecessor-version":[{"id":32027,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32020\/revisions\/32027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16286"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}