President approves draw of up to S$11b from past reserves

Singapore

PRESIDENT Halimah Yacob on Tuesday formally approved the draw of up to S$11 billion from past reserves to fund measures needed to fight Covid-19, saying that this would allow Singapore to support workers and businesses as it works towards reopening safely amid the pandemic.

In a Facebook post announcing her approval of the government's Budget, she added: "While the outlook is still uncertain, I am confident that if we continue to stay united as one, Singapore will come through this crisis stronger and ready for the future."