A recent study conducted by Duke-NUS Medical School and the Institute of Mental Health (IMH) has revealed that depression and anxiety may cost Singapore nearly SGD 16 billion a year, or approximately 2.9% of the entire gross domestic product.
The online research, which polled 5,725 adults, found that 14% of respondents had depression symptoms, while 15% had anxiety symptoms.
Affected individuals reported missing an extra 17.7 workdays per year and were 40% less productive at work, amounting to SGD 15.7 billion in lost productivity.
Experts recommend expanding access to peer support programs, improving mental health literacy, and reducing stigma to encourage more undiagnosed cases to seek treatment.
