With some fanfare, the Singapore government announced that Singapore's economy grew 17.9% in the first half of the year. A superb number…that most Singaporeans couldn’t care less about.
The reason is very simple; most Singaporeans had not received any benefits from it.
With a number like 17.9, you would expect that things are rosy and Singaporeans would be upbeat about the future. Not even close! In Singapore, most Singaporeans are now worried about their jobs which are under threat from free-flowing intake of foreign workers; housing prices that are too high for them to buy; public transport that are more expensive and more crowded than before; flooding in the city which the government claim is unstoppable etc.
Frankly, if the Singapore economy did grow by 17.9% in the first half of the year, I (like most Singaporeans) sure didn’t notice it. The best thing about the 17.9%?
This is an election year so I won’t be surprise if the government “suddenly” decided that Singaporeans should received a bonus payment to their CPF account just before the election due to the good economic numbers.