Personal savings of Singapore households hit five-year high in 2020

Figures by the Department of Statistics that showed personal savings hitting a five-year high in 2020. PHOTO: PEXELS
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SINGAPORE - Personal savings of Singapore households hit a five-year high during the Covid-19 pandemic in 2020, as Singaporeans shored up emergency funds to tide over the crisis.

While the saved amount dropped last year, experts said the habit of saving should continue beyond the end of the pandemic, especially with rising inflation.

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