Singapore Unveils S$1 Billion Support, Flags Energy Supply Risk

Singapore unveiled around S$1 billion ($778 million) in enhanced support measures to cushion the economy and warned of possible power disruptions as the Middle East conflict chokes energy supplies.

The package presented Tuesday in Parliament includes boosting the corporate income tax rebate announced in February to 50% from 40%, subject to a cap, as well as a S$200 increase in a cost-of-living payment for eligible Singaporeans. Food and grocery vouchers will be handed out in June instead of January 2027 and cab drivers will be given S$200 to defray additional fuel costs.