IMF warns ‘worst is yet to come’ for world economy
Inflation is expected to peak later this year and decline from 8.8 per cent in 2022 to 6.5 per cent in 2023.
Inflation is expected to peak later this year and decline from 8.8 per cent in 2022 to 6.5 per cent in 2023.
She also reiterated that the country never wants a war with any country, rather wants peace.
While significant moves have been made to reduce income inequality and sustain social mobility, more can be done, said Mr Wong.
Experts added that the risk of importing inflation is obvious due to rising global energy and commodity prices, which could cause a sharp downturn in global demand.
According to a report, highly-skilled workers only made up 10 per cent of employment visas granted to 406,669 foreigners in 2021.
The current regime has come under fire in recent days over alleged manipulation of inflation data, which had been hovering around record highs.
Eating out costs rose by a whopping 9 per cent in September 2022, the highest since July 1992.
Solutions offered include spending additional funds to help the most vulnerable people and lowering tariffs on goods imported from abroad.
Dismissing market rumours, he also said the country will fulfil all multilateral, international and bond obligations.
Broken down by category, restaurants accounted for the most funds, at a 38 per cent share, followed by hotels (25 per cent), guesthouses (25 per cent).