Only 36 percent of those living in Singapore believe that life for them and their families will be better economically in the next 5 years.
The was reported in the 2023 Edelman Trust Barometer report released yesterday (15 Mar).
A total of 1,135 individuals aged 18 or older living in Singapore were interviewed.
This is the lowest level of economic optimism in the 23 years that Edelman has conducted the annual global survey, and a 7 percentage point decrease from 2022.
In spite of this, the survey showed a 76 percent trust in the government.
That is an increase by 2 percentage point from last year’s survey.
Singaporeans are squeezed today by several additional indirect taxes such as the GST hike and Buyers’ Stamp Duty hike.
Besides this, surging COE and housing prices have worsened the impact of the current inflationary climate.