Singapore Prime Minister Lawrence Wong warned on Thursday (Apr 2) of “severe consequences” if Middle Eastern energy sources and supply routes remain constrained for an extended period, as he announced a new Homefront Crisis Ministerial Committee.
Addressing energy security and global supply routes, Wong cautioned that prolonged constraints could extend beyond rising costs, affecting production, trade, and daily life worldwide.
He highlighted the risk of stagflation, where slowing economic output coincides with sustained inflation, describing it as a severe and difficult-to-reverse scenario.
Follow on social media TikTok@tut0ughInstagram@tut0ugh Threads@tut0ugh X@tut0ugh YouTube@tut0ugh
tut0ugh 