Forbes Asia Editors’ Pick — Singapore Wealth Creation: Economic Outlook Is Cloudy In 2022

Rising living costs are on top of Singaporeans’ minds, as the government warns higher Inflation and Interest rates are likely to persist. Food prices are expected to double to 8.2% In the second half of this year from 4.1% In June, according to Nomura Holdings, while Interest rates have been on an upward trend, with three rate hikes since January. An Increase in private spending Is lkely to help buoy the economy In 2022-GDP Is targeted between 3% and 4%-but growth is seen dropping back to 3% by 2023 and 2.9% by 2024.

Read Michael’s full article on Forbes Asia here.