SINGAPORE, Feb. 18 (Xinhua) -- Every Singaporean household will receive vouchers worth 800 Singapore dollars (approximately 592 U.S. dollars) in the financial year 2025, Prime Minister Lawrence Wong announced on Tuesday while delivering Singapore's 2025 budget in the parliament.

The first 500 Singapore dollars will be disbursed in May, followed by the remaining 300 Singapore dollars in January 2026. These vouchers can be used at participating supermarkets, merchants, and hawkers, Wong said.

To address rising living costs, the budget includes several support measures, such as 760 Singapore dollars in utility rebates for eligible households in public housing flats, 500 Singapore dollars in education subsidies for every Singaporean aged 13 to 20, and tax reductions.

In his New Year message in January, Wong said that budget 2025's key priorities include enhancing Singapore's economic competitiveness, creating opportunities and good jobs for citizens, and mitigating the impact of rising living costs.

Singapore's budget outlines revenue and expenditure projections for the current financial year, along with estimates for the next. It is prepared annually for the financial year, which runs from April 1 to March 31.

Typically, public consultations for the new financial year begin in December, helping to shape budget priorities. In February, the prime minister delivers the budget statement and introduces the supply bill. The parliament then debates and votes on the bill before it receives the president's assent, ensuring it becomes law by March 31. (1 Singapore dollar equals 0.74 U.S. dollars) Enditem

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