SINGAPORE BUDGET SEEKS TO STABILISE ECONOMY AMIDST TURBULENT TIMES, AND PREPARE WORKFORCE FOR THE FUTURE
January 1st, 2020
WITH public nervousness growing about the impact of the Coronavirus on Singapore, amidst a period of sluggish economic growth, the city state’s government’s 2020 budget, released February 18, has stuck a balance between protecting businesses, workers and elderly, while investing in training to prepare for future upturns. And with the government warning that the pandemic could help cause Singapore’s economy to shrink by 0.5% this year, the finance minister Mr Heng Swee Keat said a planned 2% increase in goods and services tax (GST) to 9% should not take ...
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