Singapore financial system outperforms 2024 expectations, PM Wong pronounces

Investing.com — Singapore’s Prime Minister Lawrence Wong introduced that the city-state’s financial system carried out higher than anticipated in 2024. This strong financial efficiency has laid a stable basis for Singapore to navigate a tougher world atmosphere within the coming yr.

The gross home product (GDP) of Singapore expanded by 4% in 2024. This progress charge surpassed the commerce ministry’s earlier forecast in November, which predicted an financial enlargement of round 3.5%. Prime Minister Wong acknowledged that the sturdy financial system would facilitate an additional improve in actual incomes, which might surpass the speed of inflation.

In his inaugural New 12 months’s message as Singapore’s fourth prime minister because the nation gained independence, Wong pledged to information town by means of escalating world tensions whereas additionally addressing home livelihood points.

Wong emphasised the federal government’s dedication to offering extra focused help to those that wrestle to maintain up, notably the aged and lower-income teams. The federal government launched a replica of his speech wherein he acknowledged, “Nobody can be left behind, as a result of we’re all on this collectively.”

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