Singapore has paid USD73.5 billion for business, people support, during coronavirus outbreak

2020-10-06 03:43:47

(MENAFN)

Singapore's Deputy Prime Minister Heng Swee Keat said on Monday that the country has paid around 100 billion Singapore dollars (USD73.5 billion) to support Singaporeans and businesses in the middle of the coronavirus outbreak.

The official said that "our guiding principle is prudence, not austerity. We will continue to invest decisively in our national priorities, with a deep commitment to leave behind a better future for our children".

For the current financial year, the government's operating revenues are predicted to set at 16 percent under the initial predictions given at the budget in February of this year, the official said, saying that the revenue collections are predicted to fall on all categories.

The official said that "we are starting this new term of government from a most challenging fiscal position".

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