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Singapore ups 2021 GDP outlook to 6-7% on fast vaccine progress

Eased COVID rules and steady exports to spur recovery after Q2's 14.7% growth

SINGAPORE -- Singapore on Wednesday upgraded its growth projection for this year to a range of 6% to 7%, from the previous 4% to 6%, with a roughly 70% COVID-19 vaccination rate enabling plans to gradually reopen more of the economy.

That would bring economic output for 2021 above the 2019 level. The city-state's economy contracted 5.4% last year.

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