Extraordinary measures for extraordinary times

ONLY five weeks since the first Covid-19 stimulus package was announced, Singapore's government proves it isn't squeamish about dipping into reserves for the right reasons by following with a whopping S$48 billion package.

This is more than double the 2009 package worth S$20.5 billion during the financial crisis. Added to the original Covid-19 measures announced during Budget 2020, the full amount comes up to S$55 billion, which is 11 per cent of the country's gross domestic product.

Setting aside such a gargantuan amount proves that we are indeed facing a crisis that is unparalleled in modern history as President Halimah Yacob says.