Wong Urges More Cohesive Singapore as Q1 Growth Hits 6% Amid Global Uncertainty

3 articles · Updated · The Straits Times · Jun 8

Lawrence Wong said Singapore must become more cohesive as a more fractured world, technological change and geopolitical shifts make the outlook increasingly uncertain.
6% first-quarter growth shows the economy’s diversity and strength, he said, but the full impact of the Middle East conflict has yet to hit through higher oil, electricity, food and fertiliser costs.
2% to 4% full-year growth remains the government’s forecast because supply rerouting, alternative sources and inventory drawdowns have only cushioned disruption so far, and those buffers may fade.
The government is reviewing economic strategy to sharpen Singapore’s value proposition, build resilience and expand support for households and workers while keeping them adaptable and employable.
Wong said Singapore is entering the biggest shift in global order since the Cold War, with power more distributed among the US, China, Europe, India and regional blocs such as ASEAN.

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PM Wong: Singapore Must Be More Cohesive Amid Global Uncertainty

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Singapore’s 6% Q1 2026 GDP Growth: AI Boom, Global Headwinds, and Strategic Policy Actions

Overview

In the first quarter of 2026, Singapore's economy showed strong growth, driven by a more resilient global environment and high demand for artificial intelligence technologies. This surge in AI-related demand supported both global and local economic resilience, leading Enterprise Singapore to raise its export forecast for the year. As a result, strong performance is expected in Singapore's export sector. Despite these gains, the Ministry of Trade and Industry kept its overall growth projection cautious, reflecting ongoing global risks. The interplay between global resilience, AI demand, and export optimism highlights Singapore's dynamic economic outlook for 2026.

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