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Govt 'not ruling out' use of past reserves for 2nd Covid-19 support package: Heng

WITH a second stimulus package on the way amid the Covid-19 outbreak, the government is not ruling out the use of past reserves to fund it, Deputy Prime Minister and Finance Minister Heng Swee Keat said in the ST-BT Budget Roundtable 2020 on Wednesday.

"This is an option that we are looking at very carefully," he said, when asked if the government was considering that source of funding.

But Mr Heng said such a move would require the approval of the President and the Council of Presidential Advisers.

Within the current term of government, there is also "a sizeable amount of current reserves", he noted, adding: "But still I'm not ruling out the use of past reserves."