Singapore Introduces SG$1 Billion Package to Offset Impact of Middle East Conflict

MT Newswires04-08

Singapore is slated to deliver a support package worth around SG$1 billion to offset the economic impact of the war in the Middle East, according to a parliamentary speech by the city-state's Senior Minister of State for Finance, Jeffrey Siow, on Tuesday.

The support package includes fuel vouchers and cash handouts, and is a bigger package than the one designed following Russia's invasion of Ukraine in 2022.

The measures also include a corporate tax rebate of 50%, up from 40% unveiled in the fiscal 2026 budget.

Meanwhile, Deputy Prime Minister Gan Kim Yong said the country's economic activity data remained resilient during the first quarter of the year.

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