'Long storm of global political instability': President Tharman approves Budget 2026 amid 'bracing times'
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President Tharman Shanmugaratnam on Wednesday (March 18) warned of «bracing times» beyond global economic and financial strains, which he said has extended into a «long storm» of global political instability.He made these comments in'Long storm of global political instability': President Tharman approves Budget 2026 amid 'bracing times'
President Tharman Shanmugaratnam on Wednesday (March 18) warned of «bracing times» beyond global economic and financial strains, which he said has extended into a «long storm» of global political instability.He made these comments in a Facebook post as he approved the Government's record $154.7 billion spending plan for Budget 2026.Pointing to the ongoing conflict in the Middle East, now in its third week, the President cautioned that a protracted war and closure of the Strait of Hormuz will increase the risk of a major economic downturn and higher inflation.He explained that fuel prices will continue to climb if the Strait of Hormuz remains closed. This, he said, will go beyond the oil and gas markets, to affect other sectors such as fertiliser.A reduction in fertiliser supply, in turn, will impact food supply and prices, and supplies of other critical commodities such as aluminium and helium — which the world depends on. Read more














