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Inflation in Singapore has eased since its peak in early 2023, but post-pandemic economic conditions have been tough on businesses. Some companies are grappling with shrinking profit margins and struggling to pay back loans with high interest rates.
Bankruptcy applications hit an 18-year high of 3,986 in 2023. To make sense of this surge, we need to grasp the bigger economic picture and the impact of recent legal changes, say lawyers Lance Ang and Adrian Peh.
But economists are more sanguine about the economy in the latter half of 2024, as the global tech industry recovers and central banks ease monetary policy. Some even expect Taylor Swift’s six concerts to boost Singapore’s first-quarter GDP growth.
Inflation may have had a bad reputation in the last few years but a small amount helps drive economic growth, says OCBC chief economist Selena Ling.
We hope you enjoy our selection of commentaries this week.
Erin Low
Deputy Editor, Commentary
