The Singapore government has set aside 5.6 billion Singapore dollars ($4.02 billion) to help businesses, workers and households weather the economic hit from the spread of the new coronavirus called COVID-19.
in its latest budget to help businesses, workers and households weather the economic hit from the spread of the new coronavirus, called COVID-19.
In theory, the wealthy Southeast Asian city-state can fund a bigger deficit than that because it has accumulated large surpluses from past years' budgets. Under Singapore's constitution, the government's revenue and expenditure must be balanced over a typical five-year term. As of Thursday noon, the country has confirmed 85 cases, of which 37 have been discharged from hospitals, according to updates by the Ministry of Health.
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