Singapore to ‘redouble efforts’ to keep costs of living stable
BloombergUpdated Fri, 9 August 2024 at 10:34 am SGT2-min read
With cost of living ranked as the top concern among Singaporeans, Prime Minister Lawrence Wong pledged to boost safety nets and a program to re-skill workers as part of a strategy to lift incomes and address wealth inequality. (Photo: Aparna Nori/Bloomberg)More
By Philip J. Heijmans and Faris Mokhtar
(Bloomberg) — Singapore Prime Minister Lawrence Wong pledged to “redouble efforts” to combat high living costs, including by strengthening social safety nets for the most vulnerable citizens.
“We recognise how rising prices are impacting Singaporeans,” he said on Thursday in his first National Day message since taking over from Lee Hsien Loong
in May. While the city-state cannot control global prices, “we can and we have shielded Singaporeans from the worst effects of global inflation by keeping the Singapore dollar strong.”