Singapore Prime Minister is the world's highest paid leader

According to TASS news agency on October 7, Forbes magazine published a list of the world's highest-paid leaders, in which Singaporean Prime Minister Lawrence Wong ranked first.

According to Forbes, Prime Minister Wong is paid about $1.69 million a year, significantly surpassing Swiss President Viola Amherd, who comes in second, earning about $570,000 a year.

Third place belongs to Australian Prime Minister Anthony Albanese, with 413 thousand USD/year. In fourth place is US President Joe Biden, with 400 thousand USD/year.

They were followed by Austrian Chancellor Karl Nehammer, New Zealand Prime Minister Christopher Lacson, Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz.

Overall, these are the countries that are among the richest in the world. The list is based on information collected from countries' websites, data from organizations such as the International Monetary Fund (IMF) and the CIA World Factbook.

Singapore is a country that pays ministers and civil servants among the highest salaries in the world. The government argues that this remuneration system has contributed to Singapore's success over the past decades and now, in the context of globalization, competition for brainpower from the private sector and from other countries is increasingly fierce.

Besides high salaries, the Singapore Government also has other incentives to compete for human resources with the private sector.