Fourth tranche of CDC vouchers rolled out
Financial Secretary Lawrence Wong has announced the 2024 installment of the CDC vouchers. This marks the initiative’s fourth installment since 2021.
The value of the CDC vouchers this year has been increased to $500 from $300 last year. In 2021 and 2022, the vouchers were worth $100.
Reflecting on this significant increase, the government is targeting enhanced financial relief and consumer spending within the local economy. To ensure widespread utility and support local businesses, the vouchers are designed to be split into two equal parts: $250 for use in participating heartland shops, merchants, and hawkers, and another $250 for spending in participating supermarkets.
This year, the initiative has seen a significant expansion in its reach, with the number of participating merchants and hawkers having doubled to 23,000, up from 11,000 when the program first launched. Additionally, eight supermarket chains are now on board, offering the vouchers’ use across a collective 415 outlets.
These vouchers are an integral part of the government’s strategy to aid Singaporeans’ financial needs amidst high inflation and ongoing geopolitical uncertainties. A whopping 97% of vouchers in 2023 have been spent.
More from OMY: Ultimate CDC Vouchers Guide
