Bangkok Post



Singapore has delivered a second stimulus package of S$48 billion (US$33 billion) to fight the coronaviru­s outbreak, drawing on national reserves for the first time since the 2008 global financial crisis. The additional spending brings virus-related relief to almost S$55 billion, or 11% of gross domestic product, Finance Minister Heng Swee Keat said. It also will widen the budget deficit for the fiscal year starting on April 1 to 7.9% of GDP, from a previous target of 2.1%. “This extraordin­ary situation calls for extraordin­ary measures,” Heng said.

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