Singapore experienced better-than-expected growth in the past year, but Singaporeans are still facing cost of living pressures, Prime Minister Lawrence Wong said rounding up the three-day debate on his Budget 2026 statement in Parliament on Thursday (Feb 26).He said that Singapore's economy saw growth exceeding 5 per cent last year, which was more than what was projected.«The data may show improvement, but lived experience and realities do matter,» he said.«So the question is this, what more must we do to ease cost pressures and ensure every Singaporean can continue to progress?»He explained that the first step is understanding why affordability and cost concerns have surfaced, which is something not unique to Singapore.Citing the Covid-19 pandemic and war in Ukraine, PM Wong said that inflation has moderated since, but price levels remain higher.To deal with this, the Government has provided more than $10 billion through the Assurance Package, he said.Budget 2026 also features CDC vouchers, cash support, rebates, Child LifeSG credits and CPF top ups for seniors. Read more