Singapore unveils $4.5 billion package to tackle virus outbreak

Singapore on Tuesday announced financial packages worth around $4.5 billion to h...

FILE PHOTO: Singapore's Finance Minister Heng Swee Keat speaks at a UBS client conference in Singapore, January 14, 2019. REUTERS/Feline Lim/File Photo

Delivering his annual budget speech, Finance Minister Heng Swee Keat also said a planned hike in goods and services tax would not take place in 2021 given the current state of the economy which recorded its lowest growth in a decade last year. “Just as the global economy was beginning to recover, the coronavirus...outbreak hit us,” said Heng. “The outbreak will certainly impact our economy...Our first concern is to protect you and your families.”

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