December 2, 2020

On 1 December, the Monetary Authority of Singapore (MAS) noted in its annual financial stability review that, as a result of an gradual uptrend in unsecured credit charge-off rate in Q3 2019, more households could “face difficulties in their housing payments” in the coming months. Examples of unsecured credit are credit cards and personal lines...

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The recovery in the labour market is expected to be drawn out. This comes as the economy’s uncertain outlook could have “dampening effects on income streams”, while the resident unemployment rate will likely “remain elevated” in 2021.

To ensure “inclusiveness and diversity”, the government intends to build a range of housing types in upcoming estates within prime locations, all while keeping resale prices "affordable for generations to come”.

Dr Cheong Koon Hean will step down as HDB CEO from 1 January 2021. Succeeding her is Mr Tan Meng Dui who, as NEA CEO, spearheaded the SG Clean campaign and was “instrumental” in the response of NEA to Singapore’s fight against COVID-19.