Tag Archives: passersby

Singapore to tap reserves for $30 billion in new virus support measures

Singapore to tap reserves for $30 billion in new virus support measures

© Reuters. Passers-by hold their mobile phones as people take a selfie photo using a smartphone, with Singapore’s central business district skyline, in Singapore

SINGAPORE (Reuters) – Singapore on Thursday unveiled more than $30 billion in new measures to help businesses and households brace against the coronavirus pandemic which threatens to push the bellwether economy into a deep recession.

The new plans amounting to around S$48 billion ($33 billion) will see the government dip into its national reserves for the first time since the global financial crisis.

It comes just weeks after the city-state announced earlier several multi-billion dollar virus-fighting plans in its annual budget.

Singapore has won global plaudits in its two-month long battle with the virus, but a recent surge in infections has forced authorities to close its borders and entertainment venues in moves that are battering firms across the travel and finance hub.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source : Reuters Link