Singapore Allocates IDR 9.8 Trillion to Help Citizens Cope with Energy Price Surge

Moscow (ANTARA) - The Singapore Government will allocate an additional 900 million Singapore dollars (Rp9.8 trillion) to help households and the public deal with the impact of surging oil prices, according to local media on Wednesday (29/7).

Last April, the Singapore Government had already allocated 778 million US dollars (Rp14 trillion) to support the public, households, and the business community amid rising prices. At the same time, households and businesses were also urged to save on energy use.

The latest financial assistance will be distributed through vouchers worth 300 Singapore dollars (Rp4.2 million) for each household, as well as additional discounts on utility service bills from October 2026 to January 2027, according to a report by The Straits Times.

Meanwhile, small and medium enterprises employing local residents will receive assistance of at least 500 to 1,200 Singapore dollars (Rp7-16 million) for stallholders renting premises in hawker centres and markets.

The report stated that the Singapore Government expects global energy prices to remain high going forward, meaning that petrol and diesel prices, electricity, and retail products will also stay elevated.

Following the escalation of the conflict in Iran, global oil prices surged due to supply disruptions in the Strait of Hormuz, a key route for one-fifth of global oil exports. Although a total halt of oil exports was averted, the world market remains highly volatile.

Source: Sputnik