SINGAPORE: Deputy Prime Minister and Minister for Finance, Mr Heng Swee Keat, will deliver a ministerial statement on Thursday (Mar 26) regarding the Government’s additional support measures for workers, businesses and households in response to the COVID-19 pandemic.
The ministerial statement will be delivered on Thursday afternoon in Parliament, said Ministry of Finance.
AdvertisementAdvertisementThe full ministerial statement will be published on the Singapore Budget website after delivery and there will be live television and radio coverage.
[h=3]READ: Singapore cuts 2020 GDP forecast range to -0.5% to 1.5% due to COVID-19 outbreak[/h][h=3]READ: Need for 'global effort' to tackle growing economic crisis brought on by COVID-19 outbreak: Lawrence Wong[/h]Mr Heng previously announced that Singapore will spend S$4 billion on a slew of new measures and enhancements to existing schemes to stabilise its economy amid the near-term uncertainties caused by COVID-19.
AdvertisementAdvertisementIn his Budget speech in February, Mr Heng said the special Stabilisation and Support Package will help workers to remain employed and aid companies with cash flow.
For the transport sector, the Ministry of Transport in February announced a S$77 million Point-to-Point Support Package for taxi and private-hire car drivers. The Government will contribute S$45 million towards the package, with the remaining provided by taxi and private-hire car operators.
Mr Heng announced on Mar 11 that the Government had begun working on a second stimulus package as both the global economy and COVID-19 outbreak have worsened since the first package was announced.
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