Singapore will donate €47,000 per child to boost the birth rate

Singapore has launched a birth promotion plan that provides for $70,000 (about €47,000) in Singapore for every child born in the city-state to provide "strong" and "permanent" support to parents.

Singapore's PrimeMinister, Lawrence Wong , explained at the Singapore National Day parade the details of this new measure to support the upbringing of children. "We will simplify things. All children will receive the same support.

This support package will be extended to all Singaporean children born in 2026 or who are between the ages of 1 and 17 and will benefit from certain age-specific benefits in the same year and beyond.

The financial benefits for large families will be further increased, with transport aid and increased subsidies for parents with three or more children, as well as new housing measures.

Long-lasting aid

Wong has specified that parents will receive $10,000 (€6,700) per child after birth, plus $5,000 (€3,375) from the Child Development Account, which is partly state-funded child savings account, and up to $5,000 per dollar that parents enter into that account.

In addition, parents will receive $32,000 (€21,500) from $2,000 (€1,350) per year from the age of one to the age of 16. On the other hand, when children reach the age of 17, the Singapore Government will provide another $10,000 to cover higher education costs.

In addition, the national system for saving medical expenses in Singapore, Medisave, will provide another $5,000, and Edusav, a savings system for education, will add another $2,500 (€1,600) in annual contributions to primary and secondary schools.

The Government of Singapore will also implement measures in the areas of housing, childcare and childcare permitsto address the birth problem.

"The decision to have children is very personal, policies alone cannot achieve that, but what we can do is make it easier for Singaporeans who want to have children to start a family and raise children, and we want all families to know: if they decide to have children, the government will support them.