Singapore PM flags inflation risks despite 6% first-quarter growth
Why it matters: Lawrence Wong warned Middle East disruptions and AI-driven job shifts could still hit prices, supply and demand.
Singapore Prime Minister Lawrence Wong said the country’s economy grew 6% in the first quarter from a year earlier, beating an initial 4.6% estimate, but warned the outlook remains uncertain as global strains build. Speaking at a Singapore Press Club dialogue on June 8, Wong said inflationary pressures are still expected to rise and current electricity tariffs do not yet reflect the full jump in oil prices tied to the Middle East crisis that began in February 2026. He said global buffers such as alternative supplies, rerouting and inventory drawdowns have softened the shock so far, but shortages and weaker demand could follow if disruption drags on. Wong also cited uncertainty over how artificial intelligence will affect jobs.