Cost of living may prompt more top-ups, transfers for families in Budget 2024

MORE handouts to households are likely to come in Budget 2024, said economists, as high inflation and sluggish wage growth continue to weigh on Singaporeans.

Some S$1 billion to S$2 billion might be “doable”, said OCBC chief economist Selena Ling, noting “no pandemic or recession risk” that would necessitate greater generosity than that.

“Gross domestic product growth prospects are anticipated to improve in 2024, and there is no immediate urgency to do more as inflation is easing,” she said.