Singapore used 20 years of previous budget surpluses to combat Covid-19: DPM
Singapore
SINGAPORE has drawn on its reserves - equivalent to over 20 years of past Budget surpluses - to fight the Covid-19 pandemic, said Deputy Prime Minister and Finance Minister Heng Swee Keat on Friday.
"We have used a generation's worth of savings to combat a crisis of a generation. We must therefore ensure that our fiscal balance is put back on a stable path when the economy recovers," he wrote in his ministry's addendum to the President's Address.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Wall Street stocks fall as markets weigh strong wage data, Fed meeting
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data