| | FEBRUARY 20234 Singapore is well and truly on its U-shaped recovery. Even though 3.5 percent GDP growth for 2022 was narrowed from an earlier projected range of 34 percent, wage growth in Singapore in 2023 is set to stay robust even as the slowing economy cuts labor demand. Following the significant ease of COVID-19 restrictions, yesteryear saw the country's labor market attaining pre-pandemic normalcy. Total employment surpassed pre-COVID levels in the third quarter of 2022, making way for a reduction in unemployment rates. All things considered, the business realm in the country is doing a commendable job. The Deputy Prime Minister and Finance Minister of Singapore, Lawrence Wong, is set to present the 2023 Budget on Feb 14. Economists across the globe anticipate the country's financial forecast to return to some sort of normalcy and prudence after two years of Covid-related spending. Nevertheless, with the threat of slow growth and high inflation over the head, the business realm in the country, especially startups, can still expect some short-term support.While the Budget 2023 could tell the story of the post-pandemic reality, for businesses, this could only mean one thing--digital transformation. There is a possibility of extensions and renewals; however, the CFOs will have to think ahead and plan their blueprints with a focus on digitalization, internationalization, and sustainability. Furthermore, the business realm in the country also expects an update on the planned corporate `top-up' tax in response to global tax changes under the Base Erosion and Profit Shifting 2.0 initiative. It's a sure bet that the CFOs across the country's corporate landscape will have their hands full.Sujith VasudevanManaging Editoreditor@ceoinsightsasia.comEditorialSingapore Inc is Desperate for Normalcy Vol 04 · Issue 4-5 ·FEBRUARY, 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Manager - DesignPrabhu Dutta A.R.N Ray Noida Rohit Raghubanshi Akshay Shettyadvertise@ceoinsightsasia.comEditorial queries editor@ceoinsightsasia.comTo subscribeVisit www.ceoinsightsasia.com/subscribe/ or send emailto subscription@ceoinsightsasia.comMagazine Price is $50 per issueEditor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technologies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Designers Mrigank Sharma Anusree BhowmikVP - Sales & Marketing Amrit Kumar Singh Circulation Manager Magendran Perumal Editorial Heena Kousar Keerthana Kantaraju Roopalatha H.
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