Singapore tumbles in WEF index
I refer to the article “Singapore tumbles in WEF index that measures inclusive economic growth” (Straits Times, Jan 16).
It states that “Singapore did not receive an overall rank because of missing data, said the WEF, although average scores put it around eighth place.
Bottom for social welfare
But it scored near the bottom in three areas: access to education and skills, how concentrated wealth is, and social welfare.
Very low welfare spending?
In this regard, I understand that Singapore’s welfare spending as a percentage of GDP or total government spending is one of the lowest in the world.
Becoming a rentier society?
Singapore also lagged behind in a category that measures how far a country is from becoming a rentier society, through yardsticks such as the gini coefficient, competitiveness of local markets, and whether there is a banking monopoly. In this area, Singapore ranked 22nd out of the 30 advanced economies.”
2nd highest Gini?
In this connection, I understand that Singapore’s Gini is the second highest among developed and developing countries.
Leong Sze Hian