http://wildsingaporenews.blogspot.com/2010/05/singapore-no-1-in-global-ranking-of.html

'(D)espite last year’s impressive real GDP growth of 7.7%, many Singaporeans still do not feel better off. Instead, in the face of the worst inflation experienced in 25 years, there is an extremely strong sense of being worse off amongst many Singaporeans...'

NMP Siew Kum Hong's Budget 2008 speech.