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Author Topic: Singapore launches 3.2 billion dollar stimulus package  (Read 366 times)

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Singapore launches 3.2 billion dollar stimulus package

The Singapore government has issued additional measures of 30 billion Singapore dollars (23.2 billion US dollars), which is the 4th stimulus package to compensate for the economic effects of the outbreak of Covid-19.

Singapore's Deputy Prime Minister Heng Sawakit said the three measures were announced earlier. Singapore will use the budget of nearly 100 billion Singapore dollars ($ 70.4 billion) or nearly 20% of gross domestic product (GDP) to help businesses and households affected by the Covid-19.

Heng said that "This is an important and necessary measure to respond to an unprecedented crisis."

The announcement of the latest stimulus measures Held after the Ministry of Trade and Industry of Singapore. Announced to cut the forecast of the country's gross domestic product (GDP) in 2020 to -4.0% to -7.0% after the outbreak of the viral-19 virus has pulled Singapore's GDP in the first quarter this year.

In this regard, Singapore is the country where the patients have been found. Largest number in Asia Today, 383 new infections have been found, resulting in the cumulative total of 32,343 people.

In the beginning of April The Singapore government promulgated some lock-down measures. This includes the closing of most schools and workplaces temporarily. However, the government plans to slowly ease the measures next month. Which will allow only certain businesses to operate, such as electronic, pharmaceutical and petrochemical businesses



 

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