Singaporean Prime Minister Lee Hsien Loong announced that the government of Singapore will try to help the poor more in this year. He has said this in his Chinese New Year message on Wednesday. He has also said that the lower-income households need more support from the government and he has assured that his government will have more scope to help this segment of the society. As per Lee, these lower-income households have to survive with the rising living costs in the country.

Lee has said that the external factors like external low interest rates and abundant liquidity has become the major concern for the government. These factors have pushed the property prices up and the commodity prices have gone up simultaneously.

Oil and food prices have gone up remarkably and they have pushed other factors in the consumer prices index up. In his statement, Lee has said that last year was an excellent year for the government as it was been able to implement its schemes properly. He is anticipating even a better year for the people of the country this time.