SINGAPORE, March 19 (Xinhua) -- Singapore's economy is expected to grow by 3.8 percent year-on-year in the first quarter of 2025, according to a survey released by the Monetary Authority of Singapore (MAS) on Wednesday.

In the quarterly MAS Survey of Professional Forecasters, geopolitical tensions, including higher tariffs, were cited as the most common downside risk to Singapore's economic outlook, flagged by all 20 respondents.

The survey also forecasts that consumer price index, all Items inflation will come in at 1.5 percent, while MAS Core Inflation, which excludes private transport and accommodation costs, is expected at 1.1 percent in the first quarter.

For the full year, respondents see Singapore's economy most likely expanding by 2.5 percent to 2.9 percent. In February, Prime Minister Lawrence Wong said the official growth forecast for 2025 stood at between 1 percent and 3 percent.

The survey, conducted on Feb. 14, was sent to 25 economists and analysts who closely track Singapore's economy, with 20 responses received.