Singapore plans to dig deeper into government reserves for a new S$11 billion (248 billion baht) package to help households and businesses rebound from the Covid-19 pandemic and its worst economic contraction since independence.
“Even as our economy recovers gradually and some sectors grow well, some other sectors remain stressed,” said Deputy Prime Minister Heng Swee Keat, delivering the measures Tuesday in his annual budget speech to Parliament. “Our fiscal approach must strike a careful balance between addressing our immediate needs and meeting our longer-term structural needs in a responsible manner.”
The address comes after Singapore’s economy endured its…
