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John Wang
March 12 22:05

Coronavirus in Singapore: Deputy Prime Minister Heng Swee Keat announces second relief package

Coronavirus hits the economy “in waves”.
Singaporean government has started working on the second relief package for the country’s economy. The plans were revealed by the Deputy Prime Minister Heng Swee Keat on March 11.
The new Stabilisation and Support Package aims to tackle the economic impact of the coronavirus. According to the statement, the primary focus of the effort is to keep the jobs stable during the crisis. The Deputy Prime Minister believes, that this way the government can ensure stable wages, consumption and the general wellness of the market. 
Specific measures have been tailored to help the retrenched workers and self-employed specialists. The relied will be focused on those, who have been affected by the pandemic. 
According to the statement, the government believes, that the coronavirus in influencing the economy “in waves”. This is why the relief also should split in “portions”. The government does not rule out opportunities of using additional reserves to provide more help.