Covid vaccines will bring recovery in 2021 — but it won't be 'business as usual,' says Singapore minister

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Vivian Balakrishnan, Singapore's foreign minister, said technology such as artificial intelligence and robotics will alter jobs and economies globally.

on Monday. The government has set aside more than 1 billion Singapore dollars to buy different Covid vaccines, and plans to have enough shots for everyone in the country by the third quarter of 2021, said Lee.

So yes, there will be recovery in 2021, the question is to what extent that bounce back will be. But it will be a fallacy, it will be very dangerous to assume we're going to go back to business as usual.The prime minister also said the vaccines will be free for all long-term residents, regardless of nationality. Taking the shots will be voluntary, and government ministers will get inoculated early to show that the vaccines are safe, added Lee.

Balakrishnan told CNBC that the government decided to make Covid vaccines free so that "cost won't be a factor in people's decision making" on whether to take the shots. Singapore doesn't have a target for the percentage of population it wants immunized, he added. "At this point, we don't have a specific target," he said. "So let's see how it goes, I would personally hope that we have a slow, gradual and progressive start to this program."and reduced activity during a partial lockdown to contain Covid-19.

In addition to the pandemic, uncertainties weighing down global economic prospects over the past year include intensifying U.S.-China tensions, the U.S. presidential election and the U.K.'s future relationship with the

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