The Government’s response to the COVID19 outbreak will total S$59.9 billion, which is about 12% of Singapore’s GDP; overall budget deficit to increase to S$44.3 billion
SINGAPORE: Deputy Prime Minister and Finance Minister Heng Swee Keat is set to announce a third round of support measures to help tide businesses, workers and households through the COVID-19 outbreak on Monday .
The new"Solidarity Budget" follows the Unity Budget announced on Feb 18 and the Resilience Budget of Mar 26, and comes as Singapore closes schools and most workplaces for a month for the"first time in our history" to stem the spread of the disease, Mr Heng said in a Facebook post on Sunday."The COVID-19 situation has taken a very sharp turn, both globally and locally," said Mr Heng.
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