DPM Heng hopes that Singapore does not need another budget to deal with COVID-19

DPM Heng hopes that Singapore does not need another budget to deal with COVID-19

The Independent - Singapore·2020-05-28 20:00

Deputy Prime Minister Heng Swee Keat said that he hopes Singapore does not need another budget to deal with the COVID-19 pandemic, a day after he announced an additional S$33 billion COVID-19 support package in Parliament.

Dubbed the Fortitude Budget, this is the fourth such package Singapore has unveiled since the COVID-19 pandemic broke out. Singapore has already committed nearly S$100 billion — or 20 per cent of the nation’s Gross Domestic Product (GDP) — to fight the pandemic. The latest budget will dip into Singapore’s past reserves and will set its GDP growth forecast back by -7% to -4%.

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