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Singapore's economy surpasses forecasts as PM Wong vows support amid global challenges

share-iconWednesday, January 01 comment-icon3 weeks ago 7 views
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Singapore's economy surpasses forecasts as PM Wong vows support amid global challenges

Credited from: SCMP

  • Singapore's economy expanded by 4 percent in 2024, surpassing the previous forecast of 3.5 percent, according to Prime Minister Lawrence Wong.
  • In his New Year’s message, Wong emphasized the importance of this growth for maintaining real incomes that outpace inflation.
  • Wong pledged targeted support for older individuals and lower-income groups, stating, "No one will be left behind."
  • The PM acknowledged global tensions, including conflicts in Ukraine and the Middle East, but reassured that Singapore remains a "beacon of safety."
  • Upcoming budget plans for 2025 are set to tackle cost-of-living issues while promoting job creation and enhancing Singapore's competitiveness.

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