SINGAPORE -- Prime Minister Lawrence Wong has announced a draft budget for fiscal 2025 that introduces financial support schemes for locals ahead of the state's next general election, which must be held by November.

Singapore’s Prime Minister Lawrence Wong has promised a package of cash handouts in his final budget before the country goes to the polls this year in an election likely to be fought largely on the issue of high living costs.

Singapore forecast a second year of budget surpluses despite Prime Minister Lawrence Wong unveiling a long list of handouts, rebates and infrastructure investments ahead of national elections due later this year.

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