Singapore Businesses Brace for Higher Costs
- Water prices set to rise by 30%, carbon tax planned for 2019
- Singapore ranks high on global competitiveness, not cost
Here's Why Singapore Businesses Face Higher Costs
Businesses in Singapore are bracing for higher costs in a country that’s already among the world’s most expensive to live in.
From a 30 percent increase in water prices to higher diesel costs to a looming carbon tax, manufacturers are being forced to adjust their operations to remain competitive in an economy that’s only recently recovering from an export slump. It also signals a pick-up in inflation, an outcome the central bank flagged in its monetary policy statement last week.