Singapore finance minister unveils $5.8 billion worth of virus support measures

FILE PHOTO: Singapore's Finance Minister Heng Swee Keat speaks at a UBS client conference in Singapore, January 14, 2019. REUTERS/Feline Lim

SINGAPORE - Singapore’s finance minister on Monday unveiled more economic support measures worth about S$8 billion 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 over four budgets aimed at offsetting the impact of the virus this year as it faces its deepest ever recession.Our Standards:

We might have a virus in human now, but in future, we will be challenged by a virus in technology software systems just the same but worse outcome it might prevail.

AWESOME

Da wird Geld in Markt gepumpt, alles zur Verfälschung der effektiven Wirtschaft.

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