Singapore Unveils SG$900 Million Support Package for Businesses, Households Amid Iran War Pressure

MT Newswires07-30

The Singapore government has rolled out a second support package of around SG$900 million to help people and businesses manage cost pressures caused by the Middle East crisis, according to an official statement on Wednesday.

The new packpage adds to the first round launched in April, which takes the total support to around $2 billion, besides the support measures announced at Budget 2026, the Ministry ⁠of Finance said.

Among other measures, households will receive vouchers and utilities rebates while stallholders in market and hawker centres will get rental support, while small and medium-sized enterprises will receive a grant of SG$500 per local employee, up to a cap of SG$2,500 per company.

Also, all Singaporean households will receive an additional SG$300 in Community Development Council (CDC) vouchers in January 2027, which will be valid till the end of the year.

To support lower-income households, the government said it will exercise greater flexibility in income eligibility criteria, which is currently SG$800 per month per capita household income, and increase assistance to at least SG$250 per month. These enhancements will take effect from August to December.

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