Deputy Minister Heng Swee Keat announced in Parliament today (March 26) details of the Resilience Budget.
According to Mr Heng, the Resilience Budget is worth over S$48 billion, seven times more than the first tranche of S$6.4 billion allocated in the Unity Budget.
In total, Singapore is dedicating close to S$55 billion, or 11 per cent of our GDP, to “support our people in this battle.”
The President has given in-principle support to draw up to S$17 billion from past reserves to fund part of Resilience Budget, said Mr Heng.
He added that the Resilience Budget will focus on three key areas:
- Save jobs, support workers and protect livelihoods
- Help enterprise overcome immediate challenges
- Strengthen economic and social resilience
Featured Image Credit: Reuters