Analysts expect provisions to be made in Budget for social spending
Huge surpluses allow bigger expenditures to fight Covid-19 and boost safety nets for the poor and vulnerable
Singapore
WHILE it is almost certain that Budget 2020 will be packed with economic assistance and tax reliefs to soften the blow of the Covid-19 virus on businesses and help them tide over this period of uncertainty, the poor and the vulnerable are not likely to be forgotten.
Private-sector economists and researchers whom BT spoke to in the past week expect bigger allocations for special spending in this year's Budget, even though the spotlight would be on the current plight of firms - small and medium-sized enterprises (SMEs) especially, whose businesses are disrupted by the coronavirus outbreak.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
BOE reports record usage of short-term liquidity repo
Philippines central bank not seeing rate hike despite peso weakness: finmin