Finance Minister Lawrence Wong has reassured that the latest COVID-19 measures are not expected to derail Singapore’s economic recovery, which remains on track to achieving growth of between 4% and 6% this year. Mr Wong added that the bigger uncertainty is the impact of the Delta variant on global economic recovery. He also noted that the latest $1.1-billion support package will be funded through budget reallocations, and not from past reserves. The government has identified $900 million in underutilised expenditure from the cancellation of school activities and construction delays. The rest of the funds will come from a $200-million buffer that was already provided for.

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