World's second richest country to raise prime minister's annual salary to $2.85M
Ministerial salaries in Singapore, already among the world's highest, will go up from Oct. 15, boosting the city-state prime minister's annual pay by 64% to S$3.6 million (US$2.85 million).
Singapore, the world's second wealthiest nation, plans to increase its prime minister's annual salary to a staggering $2.85 million. This decision comes as the country grapples with the issue of high political salaries, a topic that has long been a sensitive and emotive one for citizens. Prime Minister Lawrence Wong acknowledged the difficulty of the matter, stating that it is about ensuring Singapore has the quality of political leadership needed to drive the nation forward.
Wong revealed that the salary increment will include a one-time increase of up to 9%, followed by adjustments based on performance. This move aims to attract top talent and deter corruption, while also reflecting the high standards expected from Singapore's leadership.
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