Mr Heng's statement comes amid a deepening recession due to the Covid-19 pandemic.. Read more at straitstimes.com.
SINGAPORE - Deputy Prime Minister Heng Swee Keat will deliver a ministerial statement next Monday on how the Government will continue its support for workers and businesses, and protect livelihoods during the Covid-19 pandemic.
"Weighing on their minds was also the uncertainty ahead, given that some of the support schemes are expiring. I will be providing more details on how we will evolve and extend our support for our companies and our workers in my Ministerial Statement on Monday," he said. Mr Heng's statement comes amid a deepening recession due to the Covid-19 pandemic. Singapore's gross domestic product shrank by 6.7 per cent in the first half of this year, with the Ministry of Trade and Industry now predicting that GDP will decline by 5 to 7 per cent in 2020, compared to the previous forecast range of -4 to -7 per cent.
The scheme was introduced in the first round of Budget support packages in February. Under the scheme, firms can get up to 75 per cent of the first $4,600 of gross monthly wages for each local worker subsidised.
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