Not a Budget to be sniffed at; economy is in good hands

DEPUTY Prime Minister and Finance Minister Heng Swee Keat unveiled an extraordinary Budget on Tuesday to tackle the Covid-19 outbreak with S$6.4 billion in measures, address economic uncertainties and press on with economic transformation.

Here are 10 takeaways from the Budget statement:

With an eye-catching S$10.9 billion overall budget deficit equivalent to 2.1 per cent of gross domestic product (GDP), the fiscal latitude is unprecedented in terms of dollar amount in nearly two decades - but it is a clear acknowledgement of the significant downside growth risk posed by the Covid-19 outbreak.