Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Mr Heng Swee Keat, delivered a Ministerial Statement in Parliament on Monday, 5 Oct 2020. Minister Heng Swee Keat charted the path to recovery for Singapore, and explained how the country’s medium-term economic strategy will evolve to achieve inclusive and resilient growth.
DPM Heng also provided an update on the overall response to COVID-19, and outlined a three-pronged approach to a refreshed economic strategy that builds on the Industry Transformation Maps:
- Remaking Singapore as a Global-Asia node of technology, innovation and enterprise;
- Redoubling our efforts to foster inclusive growth;
- Investing in economic resilience and sustainability.
In total, the Government is dedicating about $100 billion to fight COVID-19. The challenging fiscal position is expected to go into Budget 2021. The Government will continue to spend prudently and invest in our people, and is determined to leave behind a better future for our children.
Find here attached materials on the Ministerial Statement below for your reference and onward circulation.
Sources: MOF – Ministry of Finance, Singapore; ICCS The Italian Chamber of Commerce in Singapore