The 27-member bloc predicts marginal growth of less than one percent this year, raising concerns about potential economic challenges aggravated by risk factors like inflation, escalating geopolitical tensions in the Middle East, rising wages, strikes and cuts to energy subsidy programs.
Singapore will offer a special cost of living payment of up to S$400 ($297) to qualified citizens to help offset inflation, Deputy Prime Minister Lawrence Wong…
Benefit changes being legislated under urgency will mean people on the equivalent of a disability benefit and their carers will lose out on more than $2300 a.
Workers did receive a 4.6% pay raise in 2023 and a 5.2% raise in 2024. Nonetheless, federal employee pay increases have failed to keep pace with rising labor and living costs.