Chua Han Teng, Senior Economist at DBS Group, stated that as tensions between the US and Iran ease, Singapore's GDP growth prospects for the second half of the year are optimistic. The country's economy will benefit from improved financial markets, business and consumer confidence, and there is also room for development in the global AI driven technology cycle. Major ultra large scale cloud service providers' investment in AI infrastructure will drive demand for storage chips, server related products and semiconductor equipment in Singapore. DBS Group has raised its GDP growth expectations for 2026 and 2027 to 4.3% and 3.0%, respectively.