Singapore Economy, Politics and GDP Growth Summary

The ruling People's Action Party will remain dominant, although the influence of opposition parties on policy will rise. The finance minister, Lawrence Wong, is set to succeed the prime minister, Lee Hsien Loong, in 2025 or 2026, with the next general election serving as a referendum on his popularity. Real GDP growth is forecast to slow this year as higher borrowing costs and weaker external demand hurt activity.?Singapore may be a more stable business environment compared to Hong Kong, but it still lags behind the latter in terms of financial market depth and level of access to China.

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