Singapore Introduces New Relief Package to Alleviate Cost of Living

Singapore’s Ministry of Finance approved a SG$1.1 billion cost-of-living support package to aid lower- to middle-income households and businesses with cash payments, vouchers, and subsidy schemes.

SG$1.1 Billion Support Package Approved by Singapore’s Ministry of Finance

Singapore’s Ministry of Finance (MOF) has approved a SG$1.1 billion (US$809 million) cost-of-living support package to provide relief for Singaporean households and businesses, particularly those in lower- to middle-income brackets. Finance Minister Lawrence Wong announced the approval of the package, which aims to alleviate the financial burden on citizens amidst high rates of inflation.

Cost-of-Living Support Package: Cash Payments, Vouchers, and Subsidy Schemes

The support package will introduce various forms of assistance such as cash payments, vouchers, and subsidy schemes for Singaporean citizens and…