Pre-emptive Measures to Reduce Impact from Any Stagflation or Recession Within Next 24 Months and Effects of Increase in Global Interest Rates

Mr Shawn Huang Wei Zhong asked the Minister for Trade and Industry (a) whether Singapore is at risk of experiencing a stagflation or recession within the next 24 months; and (b) what are the pre-emptive measures taken to reduce the impact on businesses and Singaporean livelihoods.

Mr Desmond Choo asked the Minister for Trade and Industry in view of the increase in interest rates globally, how will lending and mortgage rates, as well as economic growth, be affected.

Mr Gan Kim Yong: This has been addressed in MTI's combined oral reply to Questions 21, 22, and 23 on the Order Paper for 4 July 2022.