SINGAPORE: Singapore’s finance minister on Monday unveiled more economic support measures worth about S$8 billion 180 billion baht) to cushion the blow from the Covid-19 pandemic on businesses and workers.
“The continued support in our fight against Covid-19 will cost S$8 billion,” Heng Swee Keat said in a speech.
“We intend to fund these measures by reallocating monies from other areas, such as development expenditures that were delayed due to Covid-19. There are no plans to draw on past reserves for these measures.”
The island-state, one of the world’s most open economies, has already spent nearly S$100 billion (2.3 trillion baht) over four budgets aimed at offsetting the impact of the virus this year as it faces its deepest ever recession.