PM Wong addresses record-low fertility, population strategy and need for national cohesion
Prime Minister Lawrence Wong said Singapore's population stands at roughly 6.11 million — well below the 6.9 million planning parameter set in the 2013 Population White Paper — and warned that growth will slow sharply as the government focuses on stability over expansion. He confirmed the resident total fertility rate fell to a historic low of 0.87 in 2025, far under replacement, calling it a global challenge without proven solutions and signalling a shift away from cash 'baby bonuses' toward broader family-friendly measures on childcare, housing and education. Wong separately urged Singaporeans to become more cohesive as the global outlook remains uncertain, and reaffirmed a controlled but continued openness to immigration to offset demographic decline. On the economy, financial-sector employment sentiment turned negative (around -2%) with Q3 layoffs anticipated. Singapore's President was also hosted by South Africa's Deputy President, underscoring ongoing outreach to Africa.
Why it matters
Singapore's chronic sub-replacement fertility and reliance on immigration sit at the heart of its long-term economic and security planning; the 2013 White Paper's 6.9 million figure triggered rare public protests, so Wong's recalibration toward 'stability' is politically sensitive. Managing a shrinking, ageing workforce while preserving social cohesion and absorbing foreign talent is an existential issue for a city-state whose competitiveness depends on labour and capital inflows.
🔎 Ground signal
Chinese-language financial coverage highlights how Singapore has tightened private-banking KYC for mainland Chinese clients since the 2023 Fujian money-laundering scandal, with some investors now shifting accounts back to Hong Kong — a sign Singapore's wealth-hub reputation carries compliance friction beneath the headline appeal.