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Singapore announces fourth stimulus package against COVID-19

Deputy Prime Minister and Finance Minister of Singapore Heng Swee Keat on May 26 announced another 33 billion SGD (23.2 billion USD) supplementary budget, aimed primarily at helping workers and businesses to tide over the COVID-19 crisis and the bleak economic outlook ahead.
Singapore announces fourth stimulus package against COVID-19 ảnh 1A corner of Singapore (Photo: AFP)

Singapore (VNA) – Deputy Prime Minister and Finance Minister of SingaporeHeng Swee Keat on May 26 announced another 33 billion SGD (23.2 billion USD)supplementary budget, aimed primarily at helping workers and businesses to tideover the COVID-19 crisis and the bleak economic outlook ahead.

Keat said the Fortitude Budget, the fourthin less than four months, sets aside 2.9 billion SGD to extend job protection,including enhancements to the Job Support Scheme that co-pays salaries to helpfirms retain workers.

It also provides for the 3.8 billion SGD that went towardsmeasures announced on April 21 to tide Singaporeans over the four-weekextension to the 'circuit breaker' to control the spread of coronavirus bylimiting people's movements.

The Government will also step up publicservices and recruit more workers to meet long-term demand for preschooleducation and health care.

🐈 Of the total four stimulus packages, theSingaporean Government has so far earmarked 92.9 billion SGD, or 19.2 percentof the country’s gross domestic product, in order to cope with the COVID-19impact./.

VNA

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