Singapore’s finance ministry on Friday announced a package of 1. 5 billion S$1. 05 billion for all Singaporean families amid considerations about the emerging burden of living in the city-state.
The package includes cash subsidies, vouchers and public transport mainly for low- to middle-income citizens, according to a statement from the Ministry of Finance.
“This new S$1. 5 billion package, combined with the first rounds of measures implemented this year, will fully cover construction by low-income families on average, and more than a share of construction in charge of living for middle-income families on average this year. ” the ministry said.
The package will be financed with better-than-expected fiscal effects in the first part of fiscal 2022, he added.
Earlier on Friday, the central bank tightened financial policy for the fourth time this year to combat persistently high inflation.
Correction: The name of this story was updated, as it should reflect that Singapore’s aid package was one billion dollars. An earlier edition incorrectly indicated the amount.
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