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Singapore enters Year of the Snake with a strong economy



Singapore’s economy grew 4% in 2024, rebounding from 1.1% the previous year, with inflation easing and unemployment remaining low, Prime Minister Lawrence Wong said in his Chinese New Year message. Growth in 2025 is forecast to slow to 1-3%, while headline inflation averaged 2.4% in 2024, with core inflation at 2.7%. Marking the transition to the Year of the Snake, PM Wong highlighted the importance of wisdom and adaptability to navigate global uncertainties, including the risks of terrorism. He emphasised unity and urged Singaporeans to engage across racial and religious lines. PM Wong reiterated commitments to families, including affordable housing, enhanced parental leave, and support for seniors and caregivers. Celebrating Singapore’s 60th year of independence, he called for honouring the nation’s progress and pioneers’ contributions.


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