SINGAPORE, July 29 — Singapore announced a new SG$900 million (RM2.84 billion) support package today, to help households and businesses cope with high energy prices due to the Middle East conflict.
Here are some details:
The Finance Ministry said that households will receive vouchers and utilities rebates while stallholders in markets and hawker centres will get rental support.
Small and medium-sized enterprises will receive a grant of SG$500 (RM1,582.85) per local employee, up to a cap of SG$2,500 (RM7,914.25) per company.
Second Minister for Finance Jeffrey Siow said while overall growth in the first half of 2026 was healthy, performance across the economy has been uneven, and small-and-medium-sized enterprises felt cost pressures more acutely.
Local media reported that two-thirds of the package will go towards support for households, while the remainder will go towards businesses.
Electricity tariffs in Singapore went up 17 per cent from this month due to soaring prices of imported natural gas.
Earlier this year, the government delivered a support package worth almost SG$1 billion (RM3.17 billion) to offset the impact of the Middle East conflict.
In February's budget, the fiscal surplus for FY2026 (April-March) was forecast at SG$8.5 billion (RM26.91 billion).
