Stagnant Birth Rates Pose Challenges for Singapore's Growth

Singapore's fertility rate remains at a low 0.97 for 2024, challenging government efforts to boost birth rates for economic growth. The aging population underscores the urgency, as births have not risen despite cultural motivations. Immigration, multiculturalism, and economic incentives are part of ongoing strategies for demographic stability.

Singapore's total fertility rate has stagnated at a historic low of 0.97 in 2024, marking a continued challenge for the government initiatives that promote higher birth rates in the prosperous island nation.

In parliament on Friday, Indranee Rajah, Minister in the Prime Minister's Office, reiterated the nation's concerns as the fertility rate stayed below 1.0, a trend that began in 2023. Last year saw a marginal increase with 30,800 resident births compared to 30,500 in 2023, but the implications for the economy and society are significant, according to Rajah.

Efforts to address the low birth rate have been deemed a "national priority." As local workforce growth slows, the challenge deepens. Although Singapore is celebrating the Year of the Dragon, traditionally a high birth year, cultural shifts have negated this effect in 2024. Government strategies include offering up to SGD 16,000 support for parents having a third child, while also carefully managing immigration to sustain demographic needs.

(With inputs from agencies.)