PM Lawrence Wong’s New Year Message

 

Credit: CNA

Prime Minister Lawrence Wong delivered an optimistic New Year message, celebrating Singapore’s economic growth of 4% in 2024, which surpassed expectations. Highlighting strong wage growth that outpaced inflation, Mr. Wong emphasized that Singapore remains distinct from many developed nations grappling with unemployment and stagnant wages. Over the past decade, median income has risen annually by 2.2% above inflation, and real incomes are projected to grow further.

Addressing Cost-of-Living Concerns

Acknowledging the challenges posed by rising costs, Mr. Wong reassured Singaporeans that the government would continue to provide targeted support to those most affected, including older individuals, lower-income groups, and the “sandwiched” middle-aged demographic caring for both elderly parents and young children.

The Vision for 2025

Looking forward, Mr. Wong urged Singaporeans to carry the “Team Singapore spirit” into 2025. He linked this to the Forward Singapore initiative, which aims to revise policies, shift mindsets, and refresh the nation’s collective aspirations. Promising a fairer and more inclusive society, Mr. Wong outlined his vision of a country where everyone has the opportunity to succeed regardless of their starting point and where dignity, security, and hope prevail.

He announced that Budget 2025 would unveil the next steps of the Forward Singapore exercise, which aims to refresh the “Singapore Dream” and build a society where opportunities abound for all.

Milestone Anniversary

As Singapore approaches the 60th anniversary of its independence in 2025, Mr. Wong encouraged citizens to reflect on the nation’s shared values and its resilience over the decades. He highlighted Singapore’s ability to remain a “beacon of safety, security, and stability” amid a turbulent global landscape.

Challenges and Resilience

The year 2024 saw rising geopolitical tensions and persistent cost-of-living pressures despite moderating inflation globally. Mr. Wong acknowledged the “deep sense of angst and anxiety” felt by societies worldwide, emphasizing Singapore’s unique position as a united and forward-looking nation.

Citing the resilience displayed by younger Singaporeans during the COVID-19 pandemic, Mr. Wong expressed confidence in the nation’s ability to overcome future challenges.

Concluding his message, he called for collective resolve and optimism, wishing Singaporeans a brighter and more prosperous 2025.