New: You can now listen to articles.SINGAPORE: The Monetary Authority of Singapore recorded a net profit of S$3.8 billion in the financial year that ended on Mar 31, a reversal from the
Total expenditure was S$21.4 billion, due largely to interest expenses on MAS bills and other borrowings for domestic money market operations. This is up from S$13.7 billion a year ago. Despite the overall profit, there was no contribution to the government's consolidated fund nor return of profits to the government for the financial year.Against the backdrop of relatively supportive global growth and disinflation, Mr Chia said growth momentum locally is expected to strengthen, with major sectors returning to pre-pandemic norms.For the full year, GDP growth will come in closer to its potential rate of 2 to 3 per cent,” he said.