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Chan Chun Sing announces support packages to help businesses for the next three to six months

Chan Chun Sing Announces Support Packages to Help Businesses For The Next Three To Six Months

Chan Chun Sing announces support packages to help businesses for the next three to six months


Mr Chan Chun Sing, the Trade and Industry Minister of Singapore, recently announced that the Government has multiple relief measures planned to be executed to support the workers and businesses in the coming 3-6 months, as the CoVID-19 outbreak continues to threaten the country.

In a recent interview, he mentioned that delivering the necessary support packages is of the utmost priority for now, and the Government is ready to dole out more aids if needed. The Government announced a support package of a whooping S$48 billion last week for shoring up support for the economy, Along with the amount of S$6.4 billion previously mentioned in the budget this year, the Government is known to be earmarking about S$55 billion, or roughly eleven per cent of the GDP

When asked about the number of businesses the supplementary budget of the Government can support and for what duration of time, Mr Chan clearly stated that the exact number of businesses that may go under is difficult to be specified right now, but the Government will make sure to try and make the maximum number of businesses stay afloat.


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