As the COVID-19 outbreak emerged in December 2019, the Asian economy took a hit. Following this, In Feb 2020, Deputy Prime Minister and Finance Minister Heng Swee Keat delivered the Singapore Budget [Unity Budget] which consisted of a slew of measures to help Singapore curb the virus outbreak.
However, in a short span of time, COVID-19 has escalated worldwide and has been declared a pandemic. With worsened situations, the economy is expected to spiral downwards further in 2020. To prepare Singapore for unprecedented times, the Government has stepped up to provide additional support for all businesses and workers in 2020 by presenting a Resilience Budget, just 5 weeks after the Unity Budget was announced.
Businesses can now look forward to sustaining throughout the year by tapping into the measures shown in the following infographic:
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