Singapore’s parliament has been dissolved to pave the way for general elections in which the city-state’s long-ruling party will seek to strengthen its dominance under Prime Minister Lawrence Wong.

Singapore’s new prime minister has vowed to make “tomorrow better than today” as he took his oath of office in a carefully planned political succession designed to ensure stability in the Asian financial hub.

Singapore Prime Minister Lee Hsien Loong says he plans to bow out and hand over power to his deputy Lawrence Wong next year before the 2025 general election.

Finance ministers from the Group of 20 nations meeting in India are set to address critical global economic challenges, including the threat posed by climate change and rising debt among low-income countries.