Singapore’s Economy Faces Multiple Threats as Growth Slows

Bloomberg2021-12-20

A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its ...

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精彩评论

koolgal
2021-12-21
koolgal
Even though Singapore faces challenges ahead, Singaporeans are very resilient and tough! With hardwork and optimism for the future, Singaporeans have always been able to overcome whatever hurdles ahead! As we say goodbye to 2021 and usher in 2022, may we stay strong and focused on our goals and achieve every success that we desire. Go Singapore! We are Singapore, Singaporean! 🇸🇬🇸🇬🇸🇬🚀🚀🚀🎊🎉🎊
- koolgal:
  Yes for Singapore 🙏🙏🙏
- escalada:
  for the motherland
- koolgal:
  I know how you feel but investing in Singapore has its advantages like no dividend withholding tax, no capital gain tax and no currency risk.
- lemonadey:
  I'm not very optimistic about Singapore stocks.
- koolgal:
  Me too! 🇸🇬🇸🇬🇸🇬
Venus_M
2021-12-20
Venus_M
At least it keeps moving. Unlike the lock down days where everything stops. Those dark days where the worst. So long we keep pressing on, the economy will have a chance to become well again. [Victory] Majulah Singapura! ❤
- Venus_M:
  no choice mah. otherwise will become pandemic
- Gackky回复Venus_M:
  now is endemic
- Venus_M:
  thank God we're not pet birds. they are being caged lifetime
- Gackky:
  lock down had set a precedent. next time similar thing happens, lock down will be default response liao
PearlynCSY
2021-12-20
PearlynCSY
Insanity is doing the same thing over and over and expecting different results. Give you $99 & take back $90 will simply push up the cost of living and more people below the poverty line
Brisvegas
2021-12-20
Brisvegas
will overcome the situation 💪😊
Jarrsoo
2021-12-20
Jarrsoo
Shag
Minnieee
2021-12-20
Minnieee
Like
- Jarrsoo:
  Ok

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113

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Now, on the cusp of 2022, the global spread of the omicron variant has rekindled concern over setbacks and a reimposition of social curbs -- though so far the government is staying the course on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to hold off on expanding vaccinated travel lanes to other hubs like Dubai.\nTravellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp.\n\nSingapore’s economic recovery was already expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc. economis ts including Euben Paracuelles wrote in a December report.\nElectronics and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a global energy crisis drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its highest level in more than two years last month.\n\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the Monetary Authority of Singapore will be remains an open question. It surprised markets in October when it tightened monetary policy, and has indicated it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a sharper hike to 1.5% appreciation -- already the baseline forecast at Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s strong performance this year prompted mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may accelerate interest-rate hikes next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie Pte. in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\nThe lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc. economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously reported that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a carbon-tax hike for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the further extension of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at Natixis SA believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":693439849,"gmtCreate":1640058185466,"gmtModify":1640059875399,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3559581955535845","authorIdStr":"3559581955535845"},"htmlText":"Even though Singapore faces challenges ahead, Singaporeans are very resilient and tough!&nbsp; With hardwork and optimism for the future, Singaporeans have always been able to overcome whatever hurdles ahead!&nbsp; As we say goodbye to 2021 and usher in 2022, may we stay strong and focused on our goals and achieve every success that we desire.&nbsp; Go Singapore! We are Singapore, Singaporean! 🇸🇬🇸🇬🇸🇬🚀🚀🚀🎊🎉🎊","listText":"Even though Singapore faces challenges ahead, Singaporeans are very resilient and tough!&nbsp; With hardwork and optimism for the future, Singaporeans have always been able to overcome whatever hurdles ahead!&nbsp; As we say goodbye to 2021 and usher in 2022, may we stay strong and focused on our goals and achieve every success that we desire.&nbsp; Go Singapore! We are Singapore, Singaporean! 🇸🇬🇸🇬🇸🇬🚀🚀🚀🎊🎉🎊","text":"Even though Singapore faces challenges ahead, Singaporeans are very resilient and tough! With hardwork and optimism for the future, Singaporeans have always been able to overcome whatever hurdles ahead! As we say goodbye to 2021 and usher in 2022, may we stay strong and focused on our goals and achieve every success that we desire. Go Singapore! We are Singapore, Singaporean! 🇸🇬🇸🇬🇸🇬🚀🚀🚀🎊🎉🎊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/693439849","repostId":1146401633,"repostType":2,"repost":{"id":"1146401633","pubTimestamp":1639960833,"share":"https://www.laohu8.com/m/news/1146401633?lang=&edition=full","pubTime":"2021-12-20 08:40","market":"sg","language":"en","title":"Singapore’s Economy Faces Multiple Threats as Growth Slows","url":"https://stock-news.laohu8.com/highlight/detail?id=1146401633","media":"Bloomberg","summary":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister L","content":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong&nbsp;hailing&nbsp;“the light at the end of the tunnel” as the city-state&nbsp;launched&nbsp;its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has&nbsp;rekindled concern&nbsp;over setbacks and a reimposition of social curbs -- though so far the government is&nbsp;staying the course&nbsp;on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to&nbsp;hold off&nbsp;on expanding vaccinated travel lanes to other hubs like Dubai.\n<img src=\"https://static.tigerbbs.com/16771ae17de905540087682bf9b9da66\" tg-width=\"1000\" tg-height=\"665\" width=\"100%\" height=\"auto\">Travellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at&nbsp;Oversea-Chinese Banking Corp.\n<img src=\"https://static.tigerbbs.com/5b2a215d7bf90bf7bfa23b3be11473e2\" tg-width=\"953\" tg-height=\"637\" width=\"100%\" height=\"auto\">\nSingapore’s economic recovery was already&nbsp;expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections&nbsp;subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc.&nbsp;economis&nbsp;ts including Euben Paracuelles wrote in a December report.\nElectronics&nbsp;and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a&nbsp;global energy crisis&nbsp;drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its&nbsp;highest level&nbsp;in more than two years last month.\n<img src=\"https://static.tigerbbs.com/2dd1c0ddc4eea1ea56d5df7a15d8dad3\" tg-width=\"959\" tg-height=\"576\" width=\"100%\" height=\"auto\">\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the&nbsp;Monetary Authority of Singapore&nbsp;will be remains an open question. It surprised markets in October when it&nbsp;tightened&nbsp;monetary policy, and has&nbsp;indicated&nbsp;it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a&nbsp;sharper hike&nbsp;to 1.5% appreciation -- already the baseline forecast at&nbsp;Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s&nbsp;strong performance&nbsp;this year prompted&nbsp;mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may&nbsp;accelerate interest-rate hikes&nbsp;next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said&nbsp;Christine Sun, senior vice president of research and analytics at&nbsp;OrangeTee &amp; Tie Pte.&nbsp;in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at&nbsp;Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\n<img src=\"https://static.tigerbbs.com/4308e0de57dd5ce4ee5bb1f994d65b01\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\">The lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc.&nbsp;economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously&nbsp;reported&nbsp;that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a&nbsp;carbon-tax hike&nbsp;for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the&nbsp;further extension&nbsp;of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at&nbsp;Natixis SA&nbsp;believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Economy Faces Multiple Threats as Growth Slows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Economy Faces Multiple Threats as Growth Slows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-20 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows>Bloomberg</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nA year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its ...\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146401633","content_text":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has rekindled concern over setbacks and a reimposition of social curbs -- though so far the government is staying the course on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to hold off on expanding vaccinated travel lanes to other hubs like Dubai.\nTravellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp.\n\nSingapore’s economic recovery was already expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc. economis ts including Euben Paracuelles wrote in a December report.\nElectronics and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a global energy crisis drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its highest level in more than two years last month.\n\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the Monetary Authority of Singapore will be remains an open question. It surprised markets in October when it tightened monetary policy, and has indicated it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a sharper hike to 1.5% appreciation -- already the baseline forecast at Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s strong performance this year prompted mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may accelerate interest-rate hikes next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie Pte. in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\nThe lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc. economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously reported that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a carbon-tax hike for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the further extension of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at Natixis SA believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":7081524,"gmtCreate":1640213363194,"gmtModify":1640213363194,"authorId":3559581955535845,"author":{"id":3559581955535845,"idStr":"3559581955535845","authorId":3559581955535845,"name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693439849,"type":1,"supId":7080050,"prevId":0,"content":"Yes for Singapore 🙏🙏🙏","text":"Yes for Singapore 🙏🙏🙏","html":"Yes for Singapore 🙏🙏🙏"},{"id":7080050,"gmtCreate":1640191756626,"gmtModify":1640191756661,"authorId":3579858317264028,"author":{"id":3579858317264028,"idStr":"3579858317264028","authorId":3579858317264028,"name":"escalada","avatar":"https://static.tigerbbs.com/3a3929ab0cf2924ca32ef81446c3f596","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693439849,"type":1,"supId":0,"prevId":0,"content":"for the motherland","text":"for the motherland","html":"for the motherland"},{"id":7065563,"gmtCreate":1640080368829,"gmtModify":1640080368829,"authorId":3559581955535845,"author":{"id":3559581955535845,"idStr":"3559581955535845","authorId":3559581955535845,"name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693439849,"type":1,"supId":7065416,"prevId":0,"content":"I know how you feel but investing in Singapore has its advantages like no dividend withholding tax, no capital gain tax and no currency risk.","text":"I know how you feel but investing in Singapore has its advantages like no dividend withholding tax, no capital gain tax and no currency risk.","html":"I know how you feel but investing in Singapore has its advantages like no dividend withholding tax, no capital gain tax and no currency risk."},{"id":7065416,"gmtCreate":1640079104866,"gmtModify":1640079104866,"authorId":3479274744411150,"author":{"id":3479274744411150,"idStr":"3479274744411150","authorId":3479274744411150,"name":"lemonadey","avatar":"https://static.laohu8.com/picture78","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693439849,"type":1,"supId":0,"prevId":0,"content":"I'm not very optimistic about Singapore stocks.","text":"I'm not very optimistic about Singapore stocks.","html":"I'm not very optimistic about Singapore stocks."},{"id":7064806,"gmtCreate":1640072957249,"gmtModify":1640072957249,"authorId":3559581955535845,"author":{"id":3559581955535845,"idStr":"3559581955535845","authorId":3559581955535845,"name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693439849,"type":1,"supId":7064123,"prevId":0,"content":"Me too! 🇸🇬🇸🇬🇸🇬","text":"Me too! 🇸🇬🇸🇬🇸🇬","html":"Me too! 🇸🇬🇸🇬🇸🇬"}],"langContent":"CN"},{"id":693168906,"gmtCreate":1639987456041,"gmtModify":1639988099190,"author":{"id":"3566385558470298","authorId":"3566385558470298","name":"Venus_M","avatar":"https://static.tigerbbs.com/525433622d774840840ddaacaf2281d2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3566385558470298","authorIdStr":"3566385558470298"},"htmlText":"At least it keeps moving.&nbsp; Unlike the lock down days where everything stops.&nbsp; Those dark days where the worst.&nbsp; So long we keep pressing on,&nbsp; the economy will have a chance to become well again.&nbsp; &nbsp;[Victory]&nbsp;&nbsp; Majulah Singapura! ❤","listText":"At least it keeps moving.&nbsp; Unlike the lock down days where everything stops.&nbsp; Those dark days where the worst.&nbsp; So long we keep pressing on,&nbsp; the economy will have a chance to become well again.&nbsp; &nbsp;[Victory]&nbsp;&nbsp; Majulah Singapura! ❤","text":"At least it keeps moving. Unlike the lock down days where everything stops. Those dark days where the worst. So long we keep pressing on, the economy will have a chance to become well again. [Victory] Majulah Singapura! ❤","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/693168906","repostId":1146401633,"repostType":2,"repost":{"id":"1146401633","pubTimestamp":1639960833,"share":"https://www.laohu8.com/m/news/1146401633?lang=&edition=full","pubTime":"2021-12-20 08:40","market":"sg","language":"en","title":"Singapore’s Economy Faces Multiple Threats as Growth Slows","url":"https://stock-news.laohu8.com/highlight/detail?id=1146401633","media":"Bloomberg","summary":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister L","content":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong&nbsp;hailing&nbsp;“the light at the end of the tunnel” as the city-state&nbsp;launched&nbsp;its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has&nbsp;rekindled concern&nbsp;over setbacks and a reimposition of social curbs -- though so far the government is&nbsp;staying the course&nbsp;on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to&nbsp;hold off&nbsp;on expanding vaccinated travel lanes to other hubs like Dubai.\n<img src=\"https://static.tigerbbs.com/16771ae17de905540087682bf9b9da66\" tg-width=\"1000\" tg-height=\"665\" width=\"100%\" height=\"auto\">Travellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at&nbsp;Oversea-Chinese Banking Corp.\n<img src=\"https://static.tigerbbs.com/5b2a215d7bf90bf7bfa23b3be11473e2\" tg-width=\"953\" tg-height=\"637\" width=\"100%\" height=\"auto\">\nSingapore’s economic recovery was already&nbsp;expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections&nbsp;subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc.&nbsp;economis&nbsp;ts including Euben Paracuelles wrote in a December report.\nElectronics&nbsp;and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a&nbsp;global energy crisis&nbsp;drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its&nbsp;highest level&nbsp;in more than two years last month.\n<img src=\"https://static.tigerbbs.com/2dd1c0ddc4eea1ea56d5df7a15d8dad3\" tg-width=\"959\" tg-height=\"576\" width=\"100%\" height=\"auto\">\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the&nbsp;Monetary Authority of Singapore&nbsp;will be remains an open question. It surprised markets in October when it&nbsp;tightened&nbsp;monetary policy, and has&nbsp;indicated&nbsp;it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a&nbsp;sharper hike&nbsp;to 1.5% appreciation -- already the baseline forecast at&nbsp;Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s&nbsp;strong performance&nbsp;this year prompted&nbsp;mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may&nbsp;accelerate interest-rate hikes&nbsp;next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said&nbsp;Christine Sun, senior vice president of research and analytics at&nbsp;OrangeTee &amp; Tie Pte.&nbsp;in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at&nbsp;Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\n<img src=\"https://static.tigerbbs.com/4308e0de57dd5ce4ee5bb1f994d65b01\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\">The lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc.&nbsp;economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously&nbsp;reported&nbsp;that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a&nbsp;carbon-tax hike&nbsp;for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the&nbsp;further extension&nbsp;of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at&nbsp;Natixis SA&nbsp;believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Economy Faces Multiple Threats as Growth Slows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Economy Faces Multiple Threats as Growth Slows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-20 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows>Bloomberg</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nA year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its ...\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146401633","content_text":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has rekindled concern over setbacks and a reimposition of social curbs -- though so far the government is staying the course on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to hold off on expanding vaccinated travel lanes to other hubs like Dubai.\nTravellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp.\n\nSingapore’s economic recovery was already expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc. economis ts including Euben Paracuelles wrote in a December report.\nElectronics and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a global energy crisis drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its highest level in more than two years last month.\n\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the Monetary Authority of Singapore will be remains an open question. It surprised markets in October when it tightened monetary policy, and has indicated it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a sharper hike to 1.5% appreciation -- already the baseline forecast at Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s strong performance this year prompted mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may accelerate interest-rate hikes next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie Pte. in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\nThe lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc. economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously reported that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a carbon-tax hike for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the further extension of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at Natixis SA believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":7064680,"gmtCreate":1640072024548,"gmtModify":1640080285912,"authorId":3566385558470298,"author":{"id":3566385558470298,"idStr":"3566385558470298","authorId":3566385558470298,"name":"Venus_M","avatar":"https://static.tigerbbs.com/525433622d774840840ddaacaf2281d2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693168906,"type":1,"supId":7060100,"prevId":0,"content":"no choice mah.&nbsp; otherwise will become pandemic","text":"no choice mah.&nbsp; otherwise will become pandemic","html":"no choice mah.&nbsp; otherwise will become pandemic"},{"id":7064904,"gmtCreate":1640074096556,"gmtModify":1640074096594,"authorId":3574326723774097,"author":{"id":3574326723774097,"idStr":"3574326723774097","authorId":3574326723774097,"name":"Gackky","avatar":"https://static.tigerbbs.com/5898b44bf5a31bf2b9d4e37227ed8177","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3566385558470298,"repliedAuthor":{"id":3566385558470298,"idStr":"3566385558470298","authorId":3566385558470298,"name":"Venus_M","avatar":"https://static.tigerbbs.com/525433622d774840840ddaacaf2281d2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":693168906,"type":1,"supId":7060100,"prevId":7064685,"content":"now is endemic","text":"now is endemic","html":"now is endemic"},{"id":7064685,"gmtCreate":1640072070280,"gmtModify":1640072070280,"authorId":3566385558470298,"author":{"id":3566385558470298,"idStr":"3566385558470298","authorId":3566385558470298,"name":"Venus_M","avatar":"https://static.tigerbbs.com/525433622d774840840ddaacaf2281d2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693168906,"type":1,"supId":7060100,"prevId":0,"content":"thank God we're not pet birds.&nbsp; they are being caged lifetime","text":"thank God we're not pet birds.&nbsp; they are being caged lifetime","html":"thank God we're not pet birds.&nbsp; they are being caged lifetime"},{"id":7060100,"gmtCreate":1640044231044,"gmtModify":1640044231077,"authorId":3574326723774097,"author":{"id":3574326723774097,"idStr":"3574326723774097","authorId":3574326723774097,"name":"Gackky","avatar":"https://static.tigerbbs.com/5898b44bf5a31bf2b9d4e37227ed8177","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693168906,"type":1,"supId":0,"prevId":0,"content":"lock down had set a precedent. next time similar thing happens, lock down will be default response liao","text":"lock down had set a precedent. next time similar thing happens, lock down will be default response liao","html":"lock down had set a precedent. next time similar thing happens, lock down will be default response liao"}],"langContent":"CN"},{"id":693359109,"gmtCreate":1639975049031,"gmtModify":1639975049694,"author":{"id":"4092458811577680","authorId":"4092458811577680","name":"PearlynCSY","avatar":"https://static.tigerbbs.com/b3e9fe7af061efe80a756d23de62e7b3","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4092458811577680","authorIdStr":"4092458811577680"},"htmlText":"Insanity is doing the same thing over and over and expecting different results. Give you $99 &amp; take back $90 will simply push up the cost of living&nbsp;and more people below the poverty line","listText":"Insanity is doing the same thing over and over and expecting different results. Give you $99 &amp; take back $90 will simply push up the cost of living&nbsp;and more people below the poverty line","text":"Insanity is doing the same thing over and over and expecting different results. Give you $99 & take back $90 will simply push up the cost of living and more people below the poverty line","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693359109","repostId":1146401633,"repostType":4,"repost":{"id":"1146401633","pubTimestamp":1639960833,"share":"https://www.laohu8.com/m/news/1146401633?lang=&edition=full","pubTime":"2021-12-20 08:40","market":"sg","language":"en","title":"Singapore’s Economy Faces Multiple Threats as Growth Slows","url":"https://stock-news.laohu8.com/highlight/detail?id=1146401633","media":"Bloomberg","summary":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister L","content":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong&nbsp;hailing&nbsp;“the light at the end of the tunnel” as the city-state&nbsp;launched&nbsp;its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has&nbsp;rekindled concern&nbsp;over setbacks and a reimposition of social curbs -- though so far the government is&nbsp;staying the course&nbsp;on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to&nbsp;hold off&nbsp;on expanding vaccinated travel lanes to other hubs like Dubai.\n<img src=\"https://static.tigerbbs.com/16771ae17de905540087682bf9b9da66\" tg-width=\"1000\" tg-height=\"665\" width=\"100%\" height=\"auto\">Travellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at&nbsp;Oversea-Chinese Banking Corp.\n<img src=\"https://static.tigerbbs.com/5b2a215d7bf90bf7bfa23b3be11473e2\" tg-width=\"953\" tg-height=\"637\" width=\"100%\" height=\"auto\">\nSingapore’s economic recovery was already&nbsp;expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections&nbsp;subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc.&nbsp;economis&nbsp;ts including Euben Paracuelles wrote in a December report.\nElectronics&nbsp;and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a&nbsp;global energy crisis&nbsp;drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its&nbsp;highest level&nbsp;in more than two years last month.\n<img src=\"https://static.tigerbbs.com/2dd1c0ddc4eea1ea56d5df7a15d8dad3\" tg-width=\"959\" tg-height=\"576\" width=\"100%\" height=\"auto\">\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the&nbsp;Monetary Authority of Singapore&nbsp;will be remains an open question. It surprised markets in October when it&nbsp;tightened&nbsp;monetary policy, and has&nbsp;indicated&nbsp;it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a&nbsp;sharper hike&nbsp;to 1.5% appreciation -- already the baseline forecast at&nbsp;Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s&nbsp;strong performance&nbsp;this year prompted&nbsp;mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may&nbsp;accelerate interest-rate hikes&nbsp;next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said&nbsp;Christine Sun, senior vice president of research and analytics at&nbsp;OrangeTee &amp; Tie Pte.&nbsp;in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at&nbsp;Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\n<img src=\"https://static.tigerbbs.com/4308e0de57dd5ce4ee5bb1f994d65b01\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\">The lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc.&nbsp;economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously&nbsp;reported&nbsp;that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a&nbsp;carbon-tax hike&nbsp;for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the&nbsp;further extension&nbsp;of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at&nbsp;Natixis SA&nbsp;believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Economy Faces Multiple Threats as Growth Slows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Economy Faces Multiple Threats as Growth Slows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-20 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows>Bloomberg</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nA year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its ...\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146401633","content_text":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has rekindled concern over setbacks and a reimposition of social curbs -- though so far the government is staying the course on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to hold off on expanding vaccinated travel lanes to other hubs like Dubai.\nTravellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp.\n\nSingapore’s economic recovery was already expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc. economis ts including Euben Paracuelles wrote in a December report.\nElectronics and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a global energy crisis drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its highest level in more than two years last month.\n\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the Monetary Authority of Singapore will be remains an open question. It surprised markets in October when it tightened monetary policy, and has indicated it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a sharper hike to 1.5% appreciation -- already the baseline forecast at Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s strong performance this year prompted mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may accelerate interest-rate hikes next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie Pte. in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\nThe lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc. economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously reported that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a carbon-tax hike for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the further extension of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at Natixis SA believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":693309715,"gmtCreate":1639966296624,"gmtModify":1639966296802,"author":{"id":"4091437816269840","authorId":"4091437816269840","name":"Brisvegas","avatar":"https://static.tigerbbs.com/3c15010063e2caf49cf03f41477d37ef","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4091437816269840","authorIdStr":"4091437816269840"},"htmlText":"will overcome the situation&nbsp;💪😊","listText":"will overcome the situation&nbsp;💪😊","text":"will overcome the situation 💪😊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693309715","repostId":1146401633,"repostType":4,"repost":{"id":"1146401633","pubTimestamp":1639960833,"share":"https://www.laohu8.com/m/news/1146401633?lang=&edition=full","pubTime":"2021-12-20 08:40","market":"sg","language":"en","title":"Singapore’s Economy Faces Multiple Threats as Growth Slows","url":"https://stock-news.laohu8.com/highlight/detail?id=1146401633","media":"Bloomberg","summary":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister L","content":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong&nbsp;hailing&nbsp;“the light at the end of the tunnel” as the city-state&nbsp;launched&nbsp;its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has&nbsp;rekindled concern&nbsp;over setbacks and a reimposition of social curbs -- though so far the government is&nbsp;staying the course&nbsp;on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to&nbsp;hold off&nbsp;on expanding vaccinated travel lanes to other hubs like Dubai.\n<img src=\"https://static.tigerbbs.com/16771ae17de905540087682bf9b9da66\" tg-width=\"1000\" tg-height=\"665\" width=\"100%\" height=\"auto\">Travellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at&nbsp;Oversea-Chinese Banking Corp.\n<img src=\"https://static.tigerbbs.com/5b2a215d7bf90bf7bfa23b3be11473e2\" tg-width=\"953\" tg-height=\"637\" width=\"100%\" height=\"auto\">\nSingapore’s economic recovery was already&nbsp;expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections&nbsp;subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc.&nbsp;economis&nbsp;ts including Euben Paracuelles wrote in a December report.\nElectronics&nbsp;and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a&nbsp;global energy crisis&nbsp;drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its&nbsp;highest level&nbsp;in more than two years last month.\n<img src=\"https://static.tigerbbs.com/2dd1c0ddc4eea1ea56d5df7a15d8dad3\" tg-width=\"959\" tg-height=\"576\" width=\"100%\" height=\"auto\">\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the&nbsp;Monetary Authority of Singapore&nbsp;will be remains an open question. It surprised markets in October when it&nbsp;tightened&nbsp;monetary policy, and has&nbsp;indicated&nbsp;it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a&nbsp;sharper hike&nbsp;to 1.5% appreciation -- already the baseline forecast at&nbsp;Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s&nbsp;strong performance&nbsp;this year prompted&nbsp;mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may&nbsp;accelerate interest-rate hikes&nbsp;next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said&nbsp;Christine Sun, senior vice president of research and analytics at&nbsp;OrangeTee &amp; Tie Pte.&nbsp;in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at&nbsp;Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\n<img src=\"https://static.tigerbbs.com/4308e0de57dd5ce4ee5bb1f994d65b01\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\">The lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc.&nbsp;economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously&nbsp;reported&nbsp;that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a&nbsp;carbon-tax hike&nbsp;for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the&nbsp;further extension&nbsp;of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at&nbsp;Natixis SA&nbsp;believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Economy Faces Multiple Threats as Growth Slows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Economy Faces Multiple Threats as Growth Slows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-20 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows>Bloomberg</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nA year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its ...\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146401633","content_text":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has rekindled concern over setbacks and a reimposition of social curbs -- though so far the government is staying the course on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to hold off on expanding vaccinated travel lanes to other hubs like Dubai.\nTravellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp.\n\nSingapore’s economic recovery was already expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc. economis ts including Euben Paracuelles wrote in a December report.\nElectronics and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a global energy crisis drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its highest level in more than two years last month.\n\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the Monetary Authority of Singapore will be remains an open question. It surprised markets in October when it tightened monetary policy, and has indicated it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a sharper hike to 1.5% appreciation -- already the baseline forecast at Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s strong performance this year prompted mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may accelerate interest-rate hikes next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie Pte. in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\nThe lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc. economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously reported that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a carbon-tax hike for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the further extension of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at Natixis SA believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":693971150,"gmtCreate":1639965521886,"gmtModify":1639965521966,"author":{"id":"3583479801970278","authorId":"3583479801970278","name":"Jarrsoo","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583479801970278","authorIdStr":"3583479801970278"},"htmlText":"Shag","listText":"Shag","text":"Shag","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693971150","repostId":1146401633,"repostType":4,"repost":{"id":"1146401633","pubTimestamp":1639960833,"share":"https://www.laohu8.com/m/news/1146401633?lang=&edition=full","pubTime":"2021-12-20 08:40","market":"sg","language":"en","title":"Singapore’s Economy Faces Multiple Threats as Growth Slows","url":"https://stock-news.laohu8.com/highlight/detail?id=1146401633","media":"Bloomberg","summary":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister L","content":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong&nbsp;hailing&nbsp;“the light at the end of the tunnel” as the city-state&nbsp;launched&nbsp;its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has&nbsp;rekindled concern&nbsp;over setbacks and a reimposition of social curbs -- though so far the government is&nbsp;staying the course&nbsp;on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to&nbsp;hold off&nbsp;on expanding vaccinated travel lanes to other hubs like Dubai.\n<img src=\"https://static.tigerbbs.com/16771ae17de905540087682bf9b9da66\" tg-width=\"1000\" tg-height=\"665\" width=\"100%\" height=\"auto\">Travellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at&nbsp;Oversea-Chinese Banking Corp.\n<img src=\"https://static.tigerbbs.com/5b2a215d7bf90bf7bfa23b3be11473e2\" tg-width=\"953\" tg-height=\"637\" width=\"100%\" height=\"auto\">\nSingapore’s economic recovery was already&nbsp;expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections&nbsp;subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc.&nbsp;economis&nbsp;ts including Euben Paracuelles wrote in a December report.\nElectronics&nbsp;and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a&nbsp;global energy crisis&nbsp;drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its&nbsp;highest level&nbsp;in more than two years last month.\n<img src=\"https://static.tigerbbs.com/2dd1c0ddc4eea1ea56d5df7a15d8dad3\" tg-width=\"959\" tg-height=\"576\" width=\"100%\" height=\"auto\">\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the&nbsp;Monetary Authority of Singapore&nbsp;will be remains an open question. It surprised markets in October when it&nbsp;tightened&nbsp;monetary policy, and has&nbsp;indicated&nbsp;it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a&nbsp;sharper hike&nbsp;to 1.5% appreciation -- already the baseline forecast at&nbsp;Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s&nbsp;strong performance&nbsp;this year prompted&nbsp;mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may&nbsp;accelerate interest-rate hikes&nbsp;next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said&nbsp;Christine Sun, senior vice president of research and analytics at&nbsp;OrangeTee &amp; Tie Pte.&nbsp;in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at&nbsp;Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\n<img src=\"https://static.tigerbbs.com/4308e0de57dd5ce4ee5bb1f994d65b01\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\">The lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc.&nbsp;economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously&nbsp;reported&nbsp;that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a&nbsp;carbon-tax hike&nbsp;for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the&nbsp;further extension&nbsp;of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at&nbsp;Natixis SA&nbsp;believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Economy Faces Multiple Threats as Growth Slows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Economy Faces Multiple Threats as Growth Slows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-20 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows>Bloomberg</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nA year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its ...\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146401633","content_text":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has rekindled concern over setbacks and a reimposition of social curbs -- though so far the government is staying the course on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to hold off on expanding vaccinated travel lanes to other hubs like Dubai.\nTravellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp.\n\nSingapore’s economic recovery was already expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc. economis ts including Euben Paracuelles wrote in a December report.\nElectronics and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a global energy crisis drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its highest level in more than two years last month.\n\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the Monetary Authority of Singapore will be remains an open question. It surprised markets in October when it tightened monetary policy, and has indicated it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a sharper hike to 1.5% appreciation -- already the baseline forecast at Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s strong performance this year prompted mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may accelerate interest-rate hikes next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie Pte. in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\nThe lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc. economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously reported that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a carbon-tax hike for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the further extension of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at Natixis SA believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":693973696,"gmtCreate":1639965427710,"gmtModify":1639965492588,"author":{"id":"3582022732313453","authorId":"3582022732313453","name":"Minnieee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3582022732313453","authorIdStr":"3582022732313453"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693973696","repostId":1146401633,"repostType":4,"repost":{"id":"1146401633","pubTimestamp":1639960833,"share":"https://www.laohu8.com/m/news/1146401633?lang=&edition=full","pubTime":"2021-12-20 08:40","market":"sg","language":"en","title":"Singapore’s Economy Faces Multiple Threats as Growth Slows","url":"https://stock-news.laohu8.com/highlight/detail?id=1146401633","media":"Bloomberg","summary":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister L","content":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong&nbsp;hailing&nbsp;“the light at the end of the tunnel” as the city-state&nbsp;launched&nbsp;its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has&nbsp;rekindled concern&nbsp;over setbacks and a reimposition of social curbs -- though so far the government is&nbsp;staying the course&nbsp;on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to&nbsp;hold off&nbsp;on expanding vaccinated travel lanes to other hubs like Dubai.\n<img src=\"https://static.tigerbbs.com/16771ae17de905540087682bf9b9da66\" tg-width=\"1000\" tg-height=\"665\" width=\"100%\" height=\"auto\">Travellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at&nbsp;Oversea-Chinese Banking Corp.\n<img src=\"https://static.tigerbbs.com/5b2a215d7bf90bf7bfa23b3be11473e2\" tg-width=\"953\" tg-height=\"637\" width=\"100%\" height=\"auto\">\nSingapore’s economic recovery was already&nbsp;expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections&nbsp;subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc.&nbsp;economis&nbsp;ts including Euben Paracuelles wrote in a December report.\nElectronics&nbsp;and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a&nbsp;global energy crisis&nbsp;drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its&nbsp;highest level&nbsp;in more than two years last month.\n<img src=\"https://static.tigerbbs.com/2dd1c0ddc4eea1ea56d5df7a15d8dad3\" tg-width=\"959\" tg-height=\"576\" width=\"100%\" height=\"auto\">\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the&nbsp;Monetary Authority of Singapore&nbsp;will be remains an open question. It surprised markets in October when it&nbsp;tightened&nbsp;monetary policy, and has&nbsp;indicated&nbsp;it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a&nbsp;sharper hike&nbsp;to 1.5% appreciation -- already the baseline forecast at&nbsp;Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s&nbsp;strong performance&nbsp;this year prompted&nbsp;mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may&nbsp;accelerate interest-rate hikes&nbsp;next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said&nbsp;Christine Sun, senior vice president of research and analytics at&nbsp;OrangeTee &amp; Tie Pte.&nbsp;in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at&nbsp;Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\n<img src=\"https://static.tigerbbs.com/4308e0de57dd5ce4ee5bb1f994d65b01\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\">The lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc.&nbsp;economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously&nbsp;reported&nbsp;that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a&nbsp;carbon-tax hike&nbsp;for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the&nbsp;further extension&nbsp;of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at&nbsp;Natixis SA&nbsp;believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Economy Faces Multiple Threats as Growth Slows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Economy Faces Multiple Threats as Growth Slows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-20 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows>Bloomberg</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nA year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its ...\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-19/singapore-s-economy-faces-multiple-threats-as-growth-slows","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146401633","content_text":"A year ago, Singapore welcomed 2021 hoping the worst of the pandemic was over, with Prime Minister Lee Hsien Loong hailing “the light at the end of the tunnel” as the city-state launched its vaccination drive.\nSince then, new virus variants and Singapore’s worst Covid surge have tempered expectations of a quick reopening, even as the island nation boasts one of the world’s highest vaccination rates. Now, on the cusp of 2022, the global spread of the omicron variant has rekindled concern over setbacks and a reimposition of social curbs -- though so far the government is staying the course on reopening.\nNew challenges like the persistent rise of inflation and a slowing economic recovery will keep eyes focused on how Singapore policy makers react. Investors also are watching how economic policies addressing long-term challenges like climate change and income inequality impact the island’s business-friendly reputation.\nHere are some themes and events to look out for in 2022:\nReopening Bumps\nSingapore’s pivot to a strategy of “living with the virus” was already facing hiccups when a surge in cases this fall led authorities to reimpose local restrictions. In recent weeks, the emergence of omicron has forced authorities to hold off on expanding vaccinated travel lanes to other hubs like Dubai.\nTravellers outside the transit area of the departure hall at Changi International Airport in Singapore on Dec. 2.Photographer: Roslan Rahman/AFP/Getty Images\nThe rise of omicron “has definitely put a damper on reopening plans and may exacerbate imported inflation, as border controls and heightened hygiene measures also contribute to global supply-chain bottlenecks,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp.\n\nSingapore’s economic recovery was already expected to slowto 3%-5% growth next year, from about 7% this year, according to the trade ministry. Still, most economists remain optimistic about the city-state’s growth prospects as local infections subside.\n“We see significant room for catch-up” of vulnerable sectors like tourism and aviation,Nomura Holdings Inc. economis ts including Euben Paracuelles wrote in a December report.\nElectronics and pharmaceuticals production, which are relatively insulated from slower global growth, can continue lifting Singapore’s economy, they said. A rise in vacancies paints a strong outlook for jobs, with the unemployment rate seen dropping to 1.9% next year, below its pre-pandemic level of 2.2%.\nInflation Bites\nSingapore has avoided the worst of the price rises seen in countries from the U.S. to Brazil, even as supply-chain bottlenecks and a global energy crisis drive up local food and electricity bills.\nMost observers expect the central bank to tighten monetary policy again at its April review after core inflation hit its highest level in more than two years last month.\n\nHeadline inflation also is expected to continue rising into next year, before moderating. As a trade hub, Singapore could be more sensitive than most to further snarls in global supply chains that could drive up prices around the world.\nHow aggressive the Monetary Authority of Singapore will be remains an open question. It surprised markets in October when it tightened monetary policy, and has indicated it is “ready to act” against further inflation risks.\nFaiz Nagutha, Asean economist at Bank of America Securities, expects MAS to steepen the slope of its currency band to 1% appreciation per year, from the current 0.5% pace. He’s not ruling out a sharper hike to 1.5% appreciation -- already the baseline forecast at Goldman Sachs Group Inc.-- if inflation accelerates further.\nProperty\nLong a topic of concern among Singapore residents, the property market’s strong performance this year prompted mid-December curbsfrom the government, the first new measures since 2018.\nAmid signs that the U.S. Federal Reserve may accelerate interest-rate hikes next year -- something that could drive rates higher globally -- concerns have risen that Singapore borrowers may be vulnerable. New requirements such as additional stamp duties for second homes could be targeted at buyers that have overstretched their finances to purchase private property, said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie Pte. in Singapore.\nMarket watchers are divided on how much the new policies might dampen market momentum. Sun projects private-home prices to rise “at a much slower pace” in 2022, in the range of 0%-3%.\nAlan Cheong, executive director of research at Savills Plc, said the new measures may limit foreign buying of private residential properties, but are “unlikely to have any significant impact” on local demand.\nCheong still expects Singapore private residential prices to rise by 7% next year, as “the belief that real estate is a hedge against inflation” means that elevated inflation could actually be a driver of demand. He does not believe any significant government intervention is likely next year.\nThe lounge of an apartment for sale in Singapore earlier in August. Photographer: Wei Leng Tay/Bloomberg\nTaxes\nSingapore’s 2022 budget in February will be closely watched for any moves targeting the wealthy and raising revenue to consolidate the city’s finances after two years of pandemic-driven deficits.\n“Fiscal policy in particular will prioritize a return to balanced budget over the current term of government, which may require a range of tax increases,”Citigroup Inc. economists Kit Wei Zheng and Ang Kai Wei wrote in a December note.\nBloomberg News previously reported that city officials have been consulting business elites about possible changes, but Prime Minister Lee said in November that finding effective ways to tax wealth was“not so easy.”Finance Minister Lawrence Wong has committed to announcing a carbon-tax hike for 2024 in next year’s budget, as the city takes additional steps against climate change.\nCitigroup’s economists say a hike in the goods and services tax -- which the government has said will happen by 2025 -- will likely be implemented next July, along with a wealth tax on existing property assets to “cushion the political impact.”\nSuch an approach will avoid hurting “the important wealth management industry” and Singapore’s competitiveness, while targeting “relatively immobile forms of wealth” Citi said.\nPolicy makers will be under pressure to maintain current spending levels, with Singapore’s top business federation recently calling for the further extension of wage and loan support into next year.\nTrinh Nguyen, senior economist for emerging Asia at Natixis SA believes the government will “act rather cautiously” on taxes while it shores up the recovery. The rise in GST may be delayed, she said, as it would “push inflation higher and is regressive.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":7050127,"gmtCreate":1639965550282,"gmtModify":1639965550316,"authorId":3583479801970278,"author":{"id":3583479801970278,"idStr":"3583479801970278","authorId":3583479801970278,"name":"Jarrsoo","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":693973696,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":113,"commentSize":15,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1146401633"}