INITIATIVE AIMS TO “EASE COST OF LIVING PRESSURES”
Citing the findings of the Singapore Index of Inflation Expectations (SInDEx) survey that was published on Tuesday, DBS noted that consumers expect a “slight negative impact” on Singapore’s economic growth over the next 12 months, given the uncertainties stemming from geopolitical conflicts, global growth prospects and general cost-of-living pressures.
“Against this backdrop, the extension of weekly hawker meal subsidies seeks to ease Singaporeans and residents’ cost of living pressures, and is in line with the government’s focus on doing the same,” said the bank.
On Tuesday, the Housing and Development Board (HDB) and Government Technology Agency (GovTech) announced the Great Budget Meal Hunt initiative, allowing the public to search for available budget meals at nearby coffee shops.
Acting Chief Information Officer and Singapore country head at DBS, Han Kwee Juan, said: “We’re heartened that the weekly hawker meal subsidies have made a positive impact on our customers and hawkers over the past year.”
“While we do see cautious signs of recovery on the horizon for 2024, we’re aware that ongoing economic uncertainties and inflation continue to be a concern for many.”