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“Global economic growth turned out to be more resilient than anticipated,” Wong said, according to a statement from the Prime Minister’s Office, adding that Singapore benefited from an AI-related surge in demand for semiconductors and electronics.
“As a result, unemployment and inflation remained low, and real incomes have risen across the board,” he said. However, “sustaining this pace of growth will be challenging,” Wong said, citing more obstacles to growth and inflationary pressures that may intensify. Singapore must “rethink, reset, and refresh” its economic strategies, Wong said.
Platform with Xinhua
