SINGAPORE -- Singapore will increase subsidies to households by 3 billion Singapore dollars ($2.26 billion) to help offset rising living costs and a higher sales tax, the government announced on Tuesday.
The budget for fiscal 2023, unveiled by leader-in-waiting and Deputy Prime Minister Lawrence Wong, shows how the city-state plans to navigate an uncertain post-pandemic year amid elevated inflation and slower global growth. At the same time, the government continues to emphasize building sustainable finances.
