Singapore to unveil more virus-related financial support plans on Monday

SINGAPORE (Reuters) - Singapore will unveil plans to extend more financial support to companies and workers during the COVID-19 pandemic on Monday, its finance ministry said. The island-state, one of the world's most open economies, has already spent around S$100 billion over four budgets aimed at offsetting the impact of the virus this year and is facing its deepest ever recession. 'We will continue to support our workers and firms through this crisis

Reuters August 15, 2020 01:07:35 IST
Singapore to unveil more virus-related financial support plans on Monday

Singapore to unveil more virusrelated financial support plans on Monday

SINGAPORE (Reuters) - Singapore will unveil plans to extend more financial support to companies and workers during the COVID-19 pandemic on Monday, its finance ministry said.

The island-state, one of the world's most open economies, has already spent around S$100 billion over four budgets aimed at offsetting the impact of the virus this year and is facing its deepest ever recession.

"We will continue to support our workers and firms through this crisis. But we are not able to sustain the same level of support indefinitely. As more sectors re-open gradually, we will have to evolve and taper the support provided," Finance Minister Heng Swee Keat said in a Facebook post.

(Reporting by John Geddie; editing by John Stonestreet)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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