Singapore's long-term demographic need is biggest challenge facing the country: K Shanmugam
Singapore's Law and Foreign Affairs Minister, K Shanmugam, says dealing with the country's long term demographic needs is the biggest challenge facing the country in the next twenty to thirty years.
He was speaking to students at the second SMU Ministerial forum.
Mr Shanmugam said that by 2030, there would be some 900 thousand seniors in Singapore, and the number of working adults supporting the senior population would go down from six currently to two in that year.
If no action is taken to deal with this challenge, Mr Shanmugam cautioned that Singapore may end up being the slowest growing country in the fastest growing region.
He said slow economic growth would also have an impact on jobs as the best and the brightest in the country may gravitate out.
Nearly 200 students attended the forum.
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