‘I’m job hugging even harder’: Some Singaporeans share how they’re navigating rising costs amid the Middle East war

SINGAPORE: Singaporeans’ worries over job stability and rising costs have surfaced online amid the Middle East war, as countries scramble for oil and gas supply and contend with higher petrol prices.

On r/singaporefi, one Singaporean said, “I’m job hugging even harder”, with the majority sharing similar concerns over job stability.

One commenter said he was having a hard time sleeping, fearing for his job amid concerns over the economy.

“Would I get enough to pay for [our] mortgage? Would we still have electricity, given that SG imports everything? Food prices… will inflation hit and even cai png be out of reach to me?” he wrote.

Another said, “I cook for myself all the time. I can feel the food cost rising rapidly.”

Meanwhile, investors have become more cautious with global stocks wobbling amid the war. While the majority expect higher prices for almost everything in the short term, others were more positive.

One said, “I feel most of us in Singapore don’t have to lose sleep over this war but I have to admit that I do feel that my dollar has been smaller and I am hoarding more cash during this season for emotional and investment security. Other than that, we are very privileged to still go about our day-to-day life with little to no impact.”

“We’re actually more energy secure than Australia. Thailand and the Philippines are already rationing energy usage. We also have access to Malaysia if all else fails. I would say we’re good for 3-4 months from the point of total collapse of other nations,” another added.

Earlier this month, Prime Minister Lawrence Wong gave an update on the situation in the Middle East, saying, “The situation is highly uncertain, and we cannot predict how exactly events will unfold. But the risks are significant, and the worst may not yet be behind us.”

While he provided assurance that the city-state has plans, capabilities, and resilience to navigate economic pressures from the Middle East conflict, he also warned that the little red dot “cannot be insulated from such global upheavals – no country can, least of all a small island-nation like ours.”

Still, there is some relief from recent developments as the United States and Iran are on a two-week ceasefire, although uncertainty remains over whether it will hold. /TISG

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