18th Singapore Economic Policy Forum

The Economic Society of Singapore (ESS) celebrated its 70th Anniversary Annual Dinner, bringing together distinguished guests, members, partners and friends to commemorate seven decades of the Society’s contributions to economic thought and dialogue. The evening opened with a welcome address by Professor Euston Quah, President of ESS, followed by a keynote address by Deputy Prime Minister and Minister for Trade and Industry (Trade) Mr Gan Kim Yong and an engaging dialogue with DPM Gan, moderated by Professor Quah. The celebration also featured a memorable 70th Anniversary cake-cutting ceremony and the MAS-ESS Essay Competition 2026 Award Presentation, recognising the achievements of the winning students. ESS extends its sincere appreciation to all who contributed to making this milestone celebration a memorable and meaningful occasion.

ASEAN is navigating an increasingly complex global environment, shaped by rising fragmentation, geopolitical volatility, and persistent external headwinds. While the region has demonstrated resilience, supported by strong macroeconomic fundamentals, the outlook ahead remains challenging.

The conflict in the Middle East is testing the resilience of developing Asia and the Pacific. Uncertainty remains exceptionally high, with impacts already evident through higher energy and commodity prices, disrupted shipping routes, and tighter financial conditions. This event will present insights from ADB’s latest Asian Development Outlook (April 2026) and examine the transmission channels of the conflict and their implications for the region’s growth prospects. It will also discuss policy responses to address these ongoing challenges.

The MAS-ESS Essay Competition 2026 recognised outstanding student essays that demonstrated insightful perspectives on economic issues. The authors of the three winning essays were presented with their awards during the 70th ESS Annual Dinner, celebrating their achievements and contributions to economic discourse.

Singapore’s Budget 2026, as highlighted by Dr Chua Yeow Hwee, Dr Chua Hak Bin, and Dr Runchana Pongsaparn, marks a shift from short-term relief to long-term resilience and competitiveness. The panel noted sustained targeted cost-of-living support alongside strong investments in AI adoption, R&D, innovation, infrastructure and globalisation to boost productivity and growth. Emphasis was placed on upskilling workers and firms, strengthening retirement adequacy through CPF enhancements, supporting overseas expansion, and maintaining fiscal prudence. With tighter labour policies and more targeted household assistance, the Budget underscores adaptability, inclusive growth, climate resilience and deeper ASEAN integration as key to securing Singapore’s long-term economic strength and opportunities.