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A RECORD S$48.4 billion is being committed in a supplementary budget unveiled on Thursday to help Singapore weather the Covid-19 crisis, with in-principle support gained to draw up to S$17 billion from past reserves for this, said Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament.
- S$15.1b Jobs Support Scheme to help companies
- Self-employed persons to get S$1,000 cash each month, more training allowance
- Singaporeans on Workfare to get S$3,000 in cash
- Jobless can get S$800 monthly; new fund to give families urgent help
- S$3b allocated for cash distribution to all families amid pandemic
- Aim to create 10,000 jobs in public and private sector over the year
- Income tax payments for companies and self-employed deferred for 3 months
- Firms can get trade loans of up to S$10m, bridging loans of up to S$5m
- S$20 billion allocation for loan capital to support companies
- Singapore's overall budget deficit grows almost four-fold to S$39.2b
- Govt may propose further draws on reserves amid Covid-19 storm
SINGAPORE'S official growth forecast for 2020 has reached negative territory, with a further downgrade to between -4 per cent and -1 per cent.
ON a year-on-year basis, manufacturing output fell 1.1 per cent due to a contraction in the Republic's linchpin electronics cluster, even as other sectors posted increases.
NATIONAL carrier Singapore Airlines (SIA) is considering a corporate action supported by Temasek Holdings to tide through the Covid-19 outbreak, Deputy Prime Minister Heng Swee Keat announced on Thursday.
The STI today
THE STI finished 17.91 points or 0.7 per cent lower at 2,487.56.