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Singapore Deputy Prime Minister Heng Swee Keat announced additional support measures of S$8 billion ($5.8 billion) to cushion the blow from the coronavirus pandemic, extending wage subsidies and aiming to shore up the hard-hit aviation and hospitality sectors.
The new set of measures, announced almost three months after the last package, adds to Singapore’s total pledged pandemic aid of almost S$100 billion, Heng, who is also finance minister, said in a taped speech aired Monday.
While Singapore has managed to bring virus cases under control, the global economy “remains very weak,” Heng said. “We must continue to adapt to the rapidly changing situation. We designed our measures to give us flexibility for adjustments as the crisis progresses. Some of these measures are ending soon.”
57,711 in IndiaMost new cases today
-1% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.039 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
5.4% Global GDP Tracker (annualized), July