Singapore PM: Brace for more challenges

Back to normal: Visitors take selfies at Jewel Changi Airport. Singapore has charged ahead with its post-Covid reopening, leading the region in removing travel curbs and largely returning day-to-day life to pre-pandemic routines. — Bloomberg

SINGAPORE: Singapore must prepare for more economic challenges as inflation will remain high and central banks are tightening policies, Prime Minister Lee Hsien Loong (pic) said, warning that the world may face a recession within the next two years.

Russia’s war on Ukraine has clouded the outlook for Singapore’s post-Covid recovery on which the nation was “cautiously optimistic” at the start of this year, the premier said in a May Day address.