Singapore’s support package won’t solve inflation, but it’ll still help, analysts say

SINGAPORE’S latest S$1.5 billion raft of relief measures will go some way to defray the impact of rising costs on businesses and households, even though it does not address the underlying drivers of inflation, economy watchers have told The Business Times.

Calling the targeted approach of the measures “fiscally prudent”, OCBC chief economist Selena Ling said the package is not meant to “solve all the inflation woes of firms and households”.

“Instead, it is to signal that the government is doing something about it, apart from tightening monetary policy settings,” she said in an e-mail to BT.

Deputy Prime Minister Lawrence Wong, who is also Finance minister, on Tuesday (Jun 21) unveiled enhanced business loans and hiring incentives, higher payouts to ComCare recipients…

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