Closing the productivity gap between sectors will require more than fiscal transfers
SINGAPORE is doing what a small, open economy is supposed to do when the world enters an artificial intelligence investment boom: It is selling the picks and shovels.
The first half-year numbers are impressive. The economy grew by 6.1 per cent year on year, with second-quarter growth reaching 5.9 per cent.
The government has raised its full-year growth forecast to between 4.5 and 5.5 per cent, citing stronger-than-expected global AI capital expenditure.
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