Singapore will unveil plans to extend more financial support to companies and workers during the COVID19 pandemic on Monday, its finance ministry said.
- Reuters
- Last Updated: August 14, 2020, 6:40 PM IST
SINGAPORE Singapore will unveil plans to extend more financial support to companies and workers during the COVID-19 pandemic on Monday, its finance ministry said.
The island-state, one of the world’s most open economies, has already spent around S$100 billion over four budgets aimed at offsetting the impact of the virus this year and is facing its deepest ever recession.
“We will continue to support our workers and firms through this crisis. But we are not able to sustain the same level of support indefinitely. As more sectors re-open gradually, we will have to evolve and taper the support provided,” Finance Minister Heng Swee Keat said in a Facebook post.
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