SINGAPORE (Feb 21): Businesses, workers, families and front-line agencies are set to get a helping hand from Budget 2020 in dealing with the economic uncertainty of the ongoing novel coronavirus outbreak through a $6.4 billion package.

This is in a bid to stabilise Singapore’s economy and cushion the implications of the outbreak which has already affected tourist arrivals and disrupted global supply chains since it broke out last month, Deputy Prime Minister and Finance Minister Heng Swee Keat revealed in his Budget 2020 speech on Tuesday.

Foremost in his concerns is jobs, acknowledges Heng who unveiled a $4-billion Stabilisation and Support Package to help workers and businesses deal with near-term economic uncertainties. Of this, $1.3 billion is set aside through a Jobs Support Scheme for some 1.9 million Singaporeans and permanent residents.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook