Wong, who is also Finance Minister, said that with the stronger economy, he expects the country’s real income to rise further.
“Over the past decade, median income has risen by 2.2 per cent per annum above inflation,” Wong said in his 2025 New Year message on Tuesday.
The ministry will release its advance GDP estimates for the fourth quarter and the whole of 2024 on Thursday.
He noted that among other things, the government aimed to sharpen Singapore’s economic competitiveness, create exciting opportunities and good jobs for Singaporeans, and continue to cushion the impact of the cost of living.
Wong highlighted that 2025 also marks the 60th anniversary of Singapore’s independence.
“Importantly, it is an opportunity to envision how we can shape our future together,” he said.
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