Singapore's economic growth in 2023 was 1.2 %, and it did not fall into a decline.Whether the GDP in 2024 can be as expected to achieve 1 % to 3 % growth, as the Ministry of Trade and Industry is estimated to depend on whether the external situation is stable.
New Prime Minister Li Xianlong published a new year's word on the last day of 2023 (December 31).He pointed out that the external environment is expected to be less conducive to Singapore's security and prosperity in the next few years. Despite this, Singaporeans should maintain confidence in the future.The government will continue to assist local families to reduce the burden on life, support enterprises and employees to improve and transform, and help disadvantaged groups to improve their lives and self -reliance.
Li Xianlong said that 2023 is a year of challenging, and the international situation is still turbulent.
U.S. President Biden and Chinese officials met in San Francisco in November to promote the stability of relations between the two countries, but the contradiction between China and the United States still existed.The Russian and Ukraine War fell into an impasse, showing no signs of ceasefire.On the other hand, the recent outbreak of the Harbon conflict has led to tens of thousands of civilian casualties.
The international situation is chaotic, but Singapore has maintained steady development in the past year.
Li Xianlong said that Singapore learned to coexist with crown disease in 2023. With the alert level of the disease cope (Dorscon), it was lowered to green in February that year, and Singapore officially came out of the epidemic.
Singapore economy has not been trapped in 2023, and the inflation has gradually eased
The Singapore economy did not fall into a decline in 2023, and inflation has gradually eased, but local families still feel the pressure of rising living expenses. Li Xianlong expressed understanding.He believes that a number of aid programs launched by the government can help local families alleviate the burden on living.
From January 1, 2024, local consumption tax will be raised from 8%to 9%.Li Xianlong said that this additional tax will help the government to cope with increasing medical expenses due to the aging of the population.In the new year, the government will continue to provide a supporting and aid facilities for local families to alleviate the impact of consumption tax increases.
"In this way, we can both help the families in need, and at the same time we can maintain a sound and sustainable public financial system for a long time."
South China Sea sovereign disputes and the situation of the Taiwan Strait may weaken investors' confidence in the region
Looking forward to 2024, Li Xianlong pointed out that the changeable geopolitical situation will continue to put pressure on the global economy.On the other hand, the sovereign disputes of the South China Sea and the situation of the Taiwan Strait also have risks.This may weaken investors' confidence in the region and affect Singapore's economic growth.Singapore's economic growth and whether inflation can slow down depends to a large extent on external environmental factors.
Singapore is expected to invest in many resources and energy to deal with the challenges brought by climate change.
Nevertheless, Li Xianlong emphasized that Singaporeans should maintain confidence in the future and believe that the future is still bright.
Artificial Intelligence and Robotic Technology bring huge development potential to Singapore
"Technology has made rapid progress, especially the rapid development of artificial intelligence and robotics technology, bringing huge development potential to Singaporean enterprises and people. The government will cooperate closely with enterprises to help them improve and transform.Every Chinese personally improves and master new skills.
Li Xianlong urged the Singaporeans to help people in need, and he also promised that the government would continue to assist low -income families and vulnerable groups.
In the end, the Prime Minister called on the country to unite and move towards 2024 in confidence and vitality.
"The prospects may not be clear, but we know the path we want to take. Let us go hand in hand to realize our ideals and create a bright future for Singapore."
