Singapore unveils US$3.5 bil in economic spending to combat virus

The new measures will increase the total spending on coronavirus relief to S$59.9 bil or 12% of GDP. FMTNews Covid19 STIMULUS Singapore Epidemic

SINGAPORE: Singapore announced S$5.1 billion in additional economic spending such as wage support, waiver of levies and one-off payments to combat the coronavirus pandemic.

On Friday, Singapore said it will close schools and most workplaces for a month as part of stricter measures to curb a recent jump in coronavirus infections. Singapore has reported a total of 1,309 infections and six deaths from the coronavirus. He said Singapore will draw an additional S$4 billion from its past reserves to fund the new measures.

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