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."
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Ecuador president declares state of emergency over energy crisis
US Senate has agreement on Fisa reauthorisation, will vote on Friday night, Schumer says
US expects to finalise new Aukus trade exemptions in next 120 days
IMF concerned about debt, fiscal challenges facing low-income countries
Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising
Colombian fund managers eye US$750 million fee bonanza after senators tweak pension bill