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Economy of Singapore


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veloped countries, coming in just behind Hong Kong and in front of the United States.

Acute poverty is rare in Singapore; the government has rejected the idea of a generous welfare system, stating that each generation must earn and save enough for its entire life cycle. There are, however, numerous means-tested 'assistance schemes' provided by the Ministry of Community Development, Youth and Sports in Singapore for the needy, including some that pay out SGD 400 to SGD 1000 per month to each needy household, free medical care at government hospitals, money for children's school fees, rental of studio apartments for SGD 80 a month, training grants for courses, etc
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