SINGAPORE: With bigger wage offsets, property tax rebates of up to 100 per cent and more help for badly-hit sectors, Singapore’s newly announced fiscal “bazooka” will help to alleviate the strain that businesses and households are feeling from the COVID-19 outbreak, said economists.
But it will not be able to prevent a recession in Singapore, given the uncertainties over the virus’s spread around the globe and disruptions in the world economy, they added.