Accommodative macro policies, coupled with domestic-driven activities, are expected to cushion the weaker trade outlook, although this will vary across economies.
US and China trade war as well as stimulus from the ECB helped to counter lingering worries about a global economic slowdown.
Singapore has been hit hard by the Sino-U.S. trade war, which has disrupted world supply chains in a blow to business investment and corporate profits.
Ministry of Trade and Industry previously narrowed down the forecast range to 1.5-2.5 per cent. In the second quarter, the economy grew by 0.1 per cent, making it the slowest expansion Singapore has seen in a decade
Trump himself blasted China's move with the yuan, calling the country a "currency manipulator."
Data next week is expected to confirm Singapore experienced its slowest pace of expansion in a decade in the second quarter on a year-on-year basis.
While more upbeat June factory output and retail sales offered signs of improvement, some analysts cautioned the gains may not be sustainable.
The MAS will wait for second quarter growth numbers in July before finalizing any revision to its full-year forecast, said Ed Robinson, deputy managing director for economic policy.
DISG also said it will assist companies in areas such as ride-hailing, e-commerce, fintech, cybersecurity and artificial intelligence.
Tensions rose sharply in May after the Trump administration accused China of reneging on promises it had made during months of talks.
The 1.8% annual expansion fell far short of the long-term average of 3.5% and was the weakest since the global financial crisis.
The economic growth across the Southeast Asia region is expected to decelerate, moderating to 4.8% in 2019.
The report by the National Association for Business Economics is based on responses by 53 economists.
Facing an job crunch at home, many young South Koreans are now signing up for government-sponsored programmes for jobs abroad.
The trade talk became more confusing after US and China appeared at a deadlock over trade negotiations on Sunday.