Swee Keat
Singapore city Singapore

Singapore's reserves are for rainy days, COVID-19 already a 'mighty storm': DPM Heng

www.channelnewsasia.com

SINGAPORE: The COVID-19 pandemic is the sort of event Singapore has been accumulating its reserves for, Deputy Prime Minister Heng Swee Keat said, as he explained the need to draw up to S$17 billion from the reserves for measures to protect jobs and support the economy.

“We have saved up for a rainy day,” Mr Heng told Parliament on Thursday (Mar 26) in announcing additional economic measures in response to the outbreak. “The COVID-19 pandemic is already a mighty storm and is still growing.”

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