Covid-19 Resilience Budget

DPM Heng says the government's $48.4 billion secondary package "cannot prevent an economic recession as the external health and economic situation will evolve beyond our control”.

Unfortunately, the package — while helpful — will not be enough to stave off a recession, says Maybank Kim Eng’s senior economist Chua Hak Bin.

The flag carrier plans to offer all shareholders the chance to subscribe for $5.3 billion in new shares. Shareholders who hold two existing SIA shares are entitled to subscribe to three new SIA shares at $3 each. 

Sabrina Sia, leader of global employer services at Deloitte Singapore, notes that the help given out has been specifically tailored to the population sectors that need it the most.

Tourism-related industries have had a “difficult time”, says Deputy Prime Minister and Finance Minister Heng Swee Keat.

Singapore will do all it can to help SIA and preserve the country’s status as an aviation hub, says DPM Heng Swee Keat.

As the coronavirus outbreaks worsens, the government will now raise its co-funding of wages for local workers to 25%, with additional support given to the sectors that have been hit the hardest.

Additional help for businesses under the Covid-19 Resilience Budget

This brings the state’s total relief package to an astounding $55 billion, after factoring in the proposed measures worth $6.4 billion that was previously announced in the Budget 2020 delivered about a month earlier.