Home World News Singapore finance minister unveils B180bn worth of support measures

Singapore finance minister unveils B180bn worth of support measures

by qualityeducation
People wearing protective face masks walk past shops, during the coronavirus disease (COVID-19) outbreak, in Singapore, Aug 12, 2020. (Reuters file photo)

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. 

You may also like

Leave a Comment