DPM Gan Kim Yong on impact of Iran war on Singapore economy and households #CNA

DPM Gan Kim Yong on impact of Iran war on Singapore economy and households
Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong on Tuesday (Apr 7) explained to parliament the likely impact of the Iran war on Singapore’s economy and households. In a ministerial statement, he said as Singapore imports nearly all of its energy, the spike in global oil and natural gas prices will inevitably raise fuel and electricity costs. This could lead to inflationary pressures, felt by households through higher costs of electricity, transport, and daily necessities.

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