Singapore could act to tackle higher costs from war in Ukraine

Singapore

SINGAPORE is closely watching external economic risks to growth and inflation, and will not hesitate to take steps to protect jobs and to help with higher costs, Finance Minister Lawrence Wong said on Wednesday (Mar 2), in the wake of Russia's invasion of neighbouring Ukraine.

While Singapore's direct trade ties with Russia and Ukraine are relatively small, he noted in his Budget round-up speech that the conflict will impact the global economy and energy markets.