Singapore to ‘redouble efforts’ to keep costs of living stable
Bloomberg
Updated 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 price
s 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.”