By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > News > PAP sweeps to victory as Singaporeans vote for stability
News

PAP sweeps to victory as Singaporeans vote for stability

News Room
Last updated: 2025/05/03 at 8:26 PM
By News Room
Share
4 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Singapore’s People’s Action Party won its 16th consecutive election on Saturday, increasing its share of the popular vote as voters in the trade-dependent country backed stability in the face of rising geopolitical tensions.

The PAP — whose winning streak dates back to 1959 when Singapore was a British colony — secured 87 out of 97 seats in results that were announced in the early hours of Sunday morning, including five uncontested seats. 

Under prime minister Lawrence Wong, who was elevated to the role a year ago, the party received 66 per cent of the popular vote, higher than 61 per cent in the last election in 2020 and its highest margin of victory for a decade.

This year’s election was set against the backdrop of an escalating global trade war, sparked by a package of tariffs announced by US President Donald Trump a month ago.

With Singapore’s global trade equivalent to more than three times its GDP, the financial and commercial hub — which plays a crucial role in the exchange of goods and services between China and the west — is seen as especially vulnerable to a downturn in global trade.

“The results will put Singapore in a better position to face this turbulent world,” said Wong during a speech at 3am in which he called the election a “clear signal of trust, stability and confidence”.

The election was viewed as a crucial test for 52-year-old Wong and the PAP as it looks to a future beyond the Lee dynasty, which has dominated Singaporean politics for the past seven decades and overseen the city-state’s transformation from a developing nation into one of the richest in the world.

Wong took over from Lee Hsien Loong, the son of the country’s modern founder, Lee Kuan Yew. Lee Hsien Loong, who retains an influential advisory role within the government, had run the country for 20 years.

As with recent elections in Canada and Australia, the incumbent performed well in the face of mounting geopolitical uncertainty.

Singapore has cut its growth forecast for the year from 1-3 per cent to 0-2 per cent on the prospect of a disruption to global trade and warned of a possible recession.

US secretary of state Marco Rubio congratulated Wong and the PAP on their victory, adding: “For nearly 60 years, the United States and Singapore have shared a strong and enduring strategic partnership and a commitment to a secure, free, and prosperous Indo-Pacific region.”

The Workers’ Party, the main opposition group, won 10 seats as it did five years ago, but will receive an additional two so-called non-constituency seats due to how close it ran the PAP in some constituencies.

Pritam Singh, leader of the Workers’ Party, acknowledged it had been a tough campaign, before which he had been found guilty of lying to parliament in a case he is contesting.

“The slate is wiped clean, we start work again tomorrow, and we go again,” he said.

Read the full article here

News Room May 3, 2025 May 3, 2025
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
How Gen Z Is Reviving Legacy Brands

Watch full video on YouTube

Market insiders on what investors need to know about Fed uncertainty, inflation, volatility

Watch full video on YouTube

Why retail investors now have a ‘seat at the table’ on Wall Street

Watch full video on YouTube

Worthington Enterprises: Upgrade To Buy On Improved Fundamentals (NYSE:WOR)

This article was written byFollowI focus on long-term investments while incorporating short-term…

EU will lose ‘race to the bottom’ on regulation, says competition chief

Stay informed with free updatesSimply sign up to the EU business regulation…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Worthington Enterprises: Upgrade To Buy On Improved Fundamentals (NYSE:WOR)

By News Room
News

EU will lose ‘race to the bottom’ on regulation, says competition chief

By News Room
News

Sanofi-Dynavax: A Conservative Vaccine Deal With Upside Tail Risk (NASDAQ:SNY)

By News Room
News

Law firms hire record number of City partners as US players expand aggressively

By News Room
News

Narendra Modi turns his focus to reforming India’s economy

By News Room
News

Jeffrey Epstein appointed Jes Staley and Lawrence Summers as executors of his will

By News Room
News

SETM: Why This ETF Should Be Read As A Cyclical Mining Play (NASDAQ:SETM)

By News Room
News

Gold and silver hit record highs on geopolitical tensions

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?