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Singapore is quietly confident in dealing with the current wave of Omicron infections, Finance Minister Lawrence Wong said on Feb. 21 in an interview with host Martin Soong during the Squawk Box Asia segment on CNBC.

He said Covid-19 infection numbers are at an all-time high and may go beyond 20,000 a day, but the situation in ICU wards are "under control".

“So if this situation continues like that, we believe that we should be able to take some decisive steps towards easing once we have passed this present peak of the Omicron wave”, he added.

Wong is also co-chair of the Covid-19 multi ministry task force.

New mutations possible, but milder

When asked if Omicron subvariant BA.2 has arrived in Singapore, Wong said there has not been "any indications" yet and that the government will “constantly and continually monitor” variants and mutations.

“But I am quite sure before too long there will be a new mutation around the world and it will come to Singapore. It may not be now, but maybe six months later," Wong added.

But a new mutation could be milder and that would be good news.

“Hopefully when that new mutation appears in the world, it will be milder than Omicron, and I think that would give us confidence that we are seeing the end of the pandemic,” he said.

Severe cases not high

At the moment, the vast majority of people in Singapore who test positive for Covid-19 can isolate and recuperate at home, he said.

Hospitals, doctors and general practitioner clinics are quite busy as there are Covid-19 patients who still need care, but the number of serious cases in the ICU is not high, he said.

However, Wong also said: “But we can never rule out the fact that it may be a more dangerous or deadly variant. So, we just have to be prepared for that.”

Singapore’s strategy is still to promote vaccination and boosters, as well as therapeutics, Wong said.

This strategy is how the government will forge “a clear path towards getting back to life as normal”.

You can watch the interview here:

Full transcript here:

Martin Soong: Thank you for your time. I know you’re very busy man, we will lift the hood and take a closer look at your budget in just a while. But – we were talking offline a few minutes ago - It’s been a pretty brutal time, the last two and a half –

Lawrence Wong: Right? For the last two years.

Martin Soong: Absolutely. So how are you, first of all?

Lawrence Wong: I’m doing well, coping as best as I can. Busy on many fronts – fighting Covid, preparing for the budget. But all things told, I’m doing okay.

Martin Soong: That’s good to hear. So Covid, before we get to anything else – update us on the situation there, because Singapore’s vaccination rate, nearly 88% fully vaccinated, is among the highest in the world. That’s the good news. Omicron though, the variant – infections just a couple of days ago hit almost 20,000. How is Singapore doing?

Lawrence Wong: Well, we are quietly confident in dealing with this Omicron wave. The infection numbers are at all-time high, and it may even go beyond 20,000. But because of our very high vaccination rate and boosters, the vast majority of infected persons have milder symptoms. So they do not need oxygen and ICU care. In fact, the situation with our hospitals, with regard to ICU and oxygen wards, is under control.

So, if this situation continues like that, we believe that we should be able to take some decisive steps towards easing, once we have passed this present peak of the Omicron wave.

Martin Soong: I need to ask you, there’s a concerning variant now, BA.2 – sounds like a credit rating, but I mean, this is no laughing matter – prevalent in South Africa. Any indication, any signs it’s arrived here or not yet?

Lawrence Wong: Well, there are variants and mutations all the time. So we are constantly and continually monitoring this. We don’t have any indications yet for that particular variant that you refer to.

But I am quite sure, before too long, there will be a new mutation. And it will come into Singapore. It may not be now but maybe six months later, but we’ll have to prepare for that. Hopefully, when that new mutation appears in the world, it will be milder than Omicron. And I think that will give us confidence that we are seeing the end of the pandemic. But we can never rule out the fact that it may be a more dangerous or deadly variant. So we just have to be prepared for that.

And the strategy is still vaccinations, boosters, and therapeutics as well. I think the strategies remain sound and we have a clear path towards getting back to life as normal.

Martin Soong: Is Singapore planning for a fourth shot? Or it could be a pill, the next thing? I don’t know.

Lawrence Wong: We are studying these options with our scientists now.

Martin Soong: Okay, fair enough. But I mean, the good news is right now, the healthcare system is not under stress or strain, because under some new rules, recently unveiled, people who do test positive are encouraged to basically isolate and recuperate at home.

Lawrence Wong: And the vast majority of them are able to do so. I mean, just rest for a few days, and you’ll get better. The hospitals are busy. I mean, I should not trivialize that. Because there are people who still need care, the doctors, the GPs are quite busy.

But the good news is that the people needing ICU care, the serious cases, are not high. They are well within the limits that we have provided for and within the capacity that we have today.

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