S$48.4b Resilience Budget for Singapore to tackle Covid-19 crisis
Add BT as a preferred source
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.
If it becomes necessary, the government is prepared to propose to the President that further draws be made on past reserves, he added.
Together with an earlier S$6.4 billion in Budget 2020, this means a total of S$54.8 billion - or 11 per cent of gross domestic product - being dedicated towards supporting the country amid the virus outbreak.
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
