Singapore ready to assist households and businesses amid West Asia tensions, says DPM Gan

SINGAPORE, June 11 — Singapore stands ready to provide further assistance to households and businesses if necessary as it closely monitors developments in West Asia, Deputy Prime Minister Gan Kim Yong said.

Gan said the conflict has had a less severe impact on Singapore than initially expected, with core inflation easing to 1.4 per cent in April from 1.7 per cent the previous month.

“The situation remains fluid. Imported cost pressures are expected to go up in the months ahead, as higher energy and other input costs pass through global supply chains.

“Inflation may rise in the months to come,” he said during the launch of Community Development Council (CDC) Vouchers Scheme 2026 for June on Thursday.

Gan, who is also Minister for Trade and Industry and chairman of the Singapore Economic Resilience Task Force, said there was no indication of how long the conflict would last or whether it could spread further, factors that continue to weigh on global markets.

“There are also other risks in the global economy, from trade tensions to financial market stability,” he said, adding that the coming months will not be easy.

Despite the uncertainties, Gan said the government remained well-positioned to support households and businesses due to years of prudent fiscal management.

He said the government’s disciplined approach had enabled it to help Singaporeans through difficult periods, assist businesses in adjusting to changing conditions, and continue investing in people and the country’s future.

Around 1.38 million Singaporean households are expected to benefit from the latest CDC tranche in the form of a S$500 (RM1,580)) voucher beginning Thursday, which is valid until December 31, 2027.

In the previous three tranches, Singaporean households received S$300 in January 2025, S$500 in May 2025, and S$300 in January 2026. — Bernama