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Supplementary Budget will 'flatten curve' of economic pain
Published Thu, Mar 26, 2020 · 09:50 PM
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THE S$48.4 billion "supplementary budget" unveiled by Finance Minister Heng Swee Keat on Thursday will not avert a long and tough recession. But it could shield Singapore from being overwhelmed by the second-round effects of the sudden halt in economic activity in the face of the Covid-19 pandemic - including bankruptcies, loan defaults, unemployment and a slump in domestic demand.
In effect, the massive fiscal response will "flatten the curve" of economic pain and financia…
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