But news & article reports keep mentioning that Singapore economy will still be strong for the coming years.....
All things listed in the media should always be taken with a pinch of salt. Many yrs back, there're many things written & said in the media that the garmen would do this & that. Today, many of the things listed are still at the teething stage. Some of it didn't even kick off till nearly a decade after. The loophole in the system is, when people are too occupied & conerned about making the 3meals a day, people tend to pay less attention, or forget what has been promised.
Our economy & livelihood strongly dependant on neighbors, even for simple things like commodity. With the escalating prices & instability in the region, how true can it be, that our economy will be strong? Look at the indexes in the past 6mths, everything is in the red and had been on a down trend. Look at the charts for the past 2yrs, our economy had been on a gradual decline. Look at the charts for the past 5yrs, we're still lower than where we were 5yrs ago.
Costs of living has gone up significantly, and remuneration island-wide has stagnated. Economy is less vibrant, and people are now attempting to spend wisely. The only way to pull the economy back up on paper is to enforce transactions to boost the GDP. True enough, we're inevitably forced to incur higher expenditure, credit to the newly increased ERP gantries, hiked transportation fares, as well as GST. With that, the statistics will still reflect that we have a high annual GDP, despite lesser transactions in general.