Singapore will provide subsidies amounting to a maximum of 860,000 won per person ahead of the general election.
On the 19th, local media such as The Straits Times and Reuters reported on the speech of Lawrence Wong, the Prime Minister and Minister of Finance of Singapore, regarding the 2025 budget proposal.
Prime Minister Lawrence Wong stated that by July, citizens of Singapore aged 21 and above would receive vouchers worth 600 Singapore dollars (approximately 640,000 won), and those aged 80 and above would receive 800 Singapore dollars (approximately 860,000 won).
The target beneficiaries are 3 million people, with a budget allocation reaching 2.02 billion Singapore dollars (approximately 2.1679 trillion won).
A separate budget of 1.06 billion Singapore dollars (approximately 1.1376 trillion won) will be allocated for the 'CDC vouchers' worth 800 Singapore dollars per household. Families with children under 12 or teenagers aged 13 to 20 will receive financial assistance of 500 Singapore dollars (approximately 530,000 won) each for educational expenses.
Wong noted, 'This is to commemorate the 60th anniversary of Singapore's independence, to honor the contributions of all Singaporeans, and to share the benefits of national development,' adding, 'This budget will help mitigate the shocks from rising prices.'
He added, 'In the long term, the best way is to develop the economy and enhance productivity.'