Owners give makeovers to Singapore's no-frills public housing flats
A view of the 46 year-old public housing apartment estate that chef Louis Loo lives in, in Singapore April 21, 2021. Picture taken April 21, 2021. Reuters

Singapore's Finance Ministry on Friday announced a S$1.5 billion ($1.05 billion) support package for all Singaporean households amid concerns over the rising costs of living in the city-state.

The package includes cash, vouchers and public transport subsidies mainly for lower- to middle-income citizens, according to a statement from the Ministry of Finance.

"This new S$1.5 billion support package, together with earlier rounds of support measures rolled out this year, will fully cover the increase in cost of living for lower-income households on average, and more than half of the increase in cost of living for middle-income households on average this year," the ministry said.

The package will be funded from the better-than-expected fiscal out-turn in the first half of FY2022, it added.

The central bank earlier on Friday tightened monetary policy for the fourth time this year to combat persistently high inflation.

($1 = 1.4228 Singapore dollars)