WITH Singapore’s economy ending the previous zodiac year “on a high note”, the country enters the Year of the Snake with “anticipation and hope”, Prime Minister Lawrence Wong said in his first Chinese New Year message since taking office in May 2024.
“Our economy performed strongly,” he said on Tuesday (Jan 28). “Inflation subsided. Unemployment remained low. Many Singaporeans enjoyed higher wage increases.”
The economy grew 4 per cent in 2024, accelerating from 1.1 per cent the year before, based on advance estimates released on Jan 2. For 2025, full-year growth is expected to slow to between 1 and 3 per cent.
Inflation has eased, with headline inflation averaging 2.4 per cent in 2024, and core inflation averaging 2.7 per cent.
On Jan 29, the Chinese zodiac year changes from the dragon to the snake, with the latter representing wisdom and adaptability, noted PM Wong. “These are qualities we will need to navigate uncertainties and challenges, especially in our external environment.”
The world is “getting more dangerous”, he warned, noting that terrorist groups have used conflicts in the Middle East to further their agendas. Singapore will stay vigilant against attacks, but must brace for the possibility of them.
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Any attacks should not weaken the societal fabric but instead “strengthen our resolve to protect our harmony and way of life”, he said.
The festive season is an opportunity to celebrate Singapore’s diversity as a source of strength, he added.
“We may have different views on issues that matter deeply to us. But we cannot let our differences pull us apart,” he said, urging Singaporeans to make an effort to engage fellow citizens of different races and religions.
“In a world that is increasingly divided and polarised, our unity is a precious asset that we must continue to protect and nurture.”
Doing more for families
With Chinese New Year being a time for reunions, PM Wong highlighted the importance of families and reiterated his commitment to supporting them at “every stage of life”.
This includes ramping up public housing supply and making it more affordable; enhancing parental leave; and investing in schools to provide “a good start in life” for every child.
The government is also helping seniors stay active and healthy, and will do more to support caregivers and vulnerable families.
“But building an inclusive society requires all of us to do our part,” added PM Wong, encouraging charitable donations, volunteering and leading social initiatives.
This Chinese New Year is special as it coincides with the 60th year of Singapore’s independence, and 60 years mark a full cycle of life in Chinese culture, PM Wong said.
“It is therefore timely to reflect on how far we have come, honour the contributions and sacrifices of our pioneers, and build on their legacy to chart our next steps forward.”
