SINGAPORE, March 23 (Bernama) – Singapore will announce additional support measures to help mitigate the COVID-19 pandemic’s impact on the republic’s economy next week.
In a statement today, the Ministry of Finance said Singapore’s Deputy Prime Minister Heng Swee Keat will deliver a ministerial statement in Parliament on the additional support measures for workers, businesses and households on March 26.
Under the republic’s 2020 Budget announced on Feb 18, the Singapore government had set aside S$5.6 billion for two special packages, of which S$4 billion had been allocated for the Stabilisation and Support Package to help viable enterprises and workers during these uncertain times.
On March 26, Singapore will also release its advance Gross Domestic Product (GDP) estimates for the first quarter of 2020 .
Last month, the republic's Ministry of Trade and Industry had downgraded the 2020 GDP forecast from between 0.5 per cent and 2.5 per cent to between -0.5 per cent and 1.5 per cent.
TAG : Singapore, economy, measures, COVID-19, GDP