Looking ahead

 
How will the Singapore economy fare in 2015?
What will be the biggest pluses and minuses for the economy?

OVERALL, I believe the Singapore economy will do well in 2015. With Singapore celebrating SG50 this year, we anticipate the nation will generally be positively predisposed. The country will benefit from some major events such as the 28th SEA Games that will be held in Singapore this year and we expect these to generate a lot of business activity domestically. Even if some economic hiccups occur in the region and around the world, we should fare fairly well, as the effects of such developments usually take several months to filter down to us. The biggest plus will be the lower oil prices and the biggest minus will be the shortage of good workers that will result in an increasingly higher cost of wages that is not proportionate to growth.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd