SINGAPORE, July 30 (Xinhua) -- Singapore will roll out a second support package worth about 900 million Singapore dollars (about 700 million U.S. dollars) to help businesses and households cope with rising costs stemming from the prolonged conflict in the Middle East.
The latest package, announced on Wednesday, comes on top of the 1 billion Singapore dollars assistance unveiled in April and measures included in Budget 2026, bringing total additional government support to about 2 billion Singapore dollars, the Ministry of Finance said in a statement.
The latest measures include enhanced financing support and cash assistance for small and medium-sized enterprises, rental relief for eligible hawker and market stallholders, additional vouchers for households, higher utility rebates and expanded financial assistance for lower-income families.
Minister for Transport and Second Minister for Finance Jeffrey Siow said renewed fighting in the Middle East and continued disruption to shipping through the Persian Gulf are expected to keep global energy prices elevated, increasing the cost of fuel, electricity and imported goods.
He said the government stands ready to introduce further measures should the situation deteriorate. ■
