Singapore Boosts Virus Package to 11% of GDP, Tap Reserves

Submitted by socpro on
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Government announced direct cash aid to a broader pool of self-employed persons, and enhanced support for lower-income workers, as part of a stimulus package of S$48 billion ($33 billion). Other measures in the package include: scrapping of property tax for virus-hit hotels, restaurants and shops, expansion of wage support for businesses, including extra support for those in food services, aviation and tourism industries, and freeze of government fees and charges.

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