According to the Asia Pacific Salary Budget Planning Report, salaries in Singapore are expected to increase by 4.5% same as in 2014.
The report which was compiled by Towers Watson’s Data Services Practice revealed that in real terms after factoring annual inflation, salaries in Singapore will rise 4.4 %. The salary increase budget for 2016 is expected to increase 4.5%.
Mr Sambhav Rakyan, Data Services practice leader, Asia Pacific at Towers Watson said: “The Singapore Government has been sticking to a tight monetary policy to keep the lid on inflation. Its policy to stabilise property prices has also helped curb inflationary pressures".