SINGAPORE: Singapore’s Prime Minister-to-be, Lawrence Wong, will need to make tackling cost of living as top priority, analysts have opined.
With the cost of living being the biggest worry, nine out of twelve experts in the survey emphasised the need to deal with core inflation. Despite efforts by Singapore’s central bank to maintain tight monetary policies, allowing the local dollar to strengthen and mitigate imported inflation, the government has also implemented measures to cushion the impact for households.
Following a lacklustre performance in the 2020 elections, where the ruling People’s Action Party experienced its lowest parliamentary seat count since Singapore’s inception, building rapport with both the United States and China has been highlighted as a crucial diplomatic endeavour, with a focus on enhancing trade following closely behind.
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