Singapore PM Lee reassures public amid political scandals, inflation
7:53 am Tuesday, August 08th, 2023
SINGAPORE (Reuters) -Singapore Prime Minister Lee Hsien Loong on Tuesday sought to reassure the public after a spate of political scandals rocked his ruling party in recent months and amid continuing worries over inflation in the city-state.
In remarks made on the eve of Singapore’s national day, Lee said his government would maintain “high standards of honesty, integrity, and propriety” after the anti-graft agency launched a rare investigation into a cabinet minister, and two lawmakers from the ruling People’s Action Party (PAP) were forced to resign over an inappropriate relationship.
“Let there be no doubt: my government is determined to keep our system free of corruption and wrongdoing,” he said in a televised address, wearing a shirt with Singapore’s national colours of red and white.
Singapore is due to hold elections by 2025. The PAP has maintained a grip on power since Singapore became an independent nation in 1965.
Lee also addressed rising living costs in a country already considered among the world’s most expensive.
“Inflation is still a problem for us, as it is for many countries,” he said.
Singapore’s yearly core inflation rate – which excludes private road transport and accommodation costs – eased to 4.2% in June from 4.7% in May.
Monetary Authority of Singapore (MAS) chief Ravi Menon said last month that Singapore’s inflation would ease significantly thanks to a tight monetary policy stance, but the central bank would “not switch from inflation-fighting mode to growth-supporting mode”.
The MAS left monetary policy settings unchanged in April, after tightening five times in a row since October 2021, reflecting concerns over the city-state’s growth outlook.
(Reporting by Chen Lin; Editing by Kanupriya Kapoor and William Maclean)
