Personal Finance
How Is the Singapore Government Paying for the $54.8 Billion Unity and Resilience Budget to Fight COVID-19?
By Seedly  •  March 26, 2020

2020 has not been off to a great start so far.

Source: Robert B. Weide’s Twitter

As the global economy worsened amidst the COVID-19 outbreak, governments around the world have been implementing stimulus packages in a bid to jumpstart and keep their country’s economy afloat.

The Singapore Government has also been quick to take action.

Announcing the first COVID-19 stimulus package in Parliament, entitled the Unity Budget, to the tune of $6.4 billion.

This was announced during the Singapore Budget 2020 on 18 February 2020.

On 26 March 2020, Deputy Prime Minister and Minister for Finance Heng Swee Keat announced the second COVID-19 stimulus package entitled the Resilience Budget in Parliament.

This time, $48.4 billion will be set aside by the Singapore Government to help businesses, workers, and families dealing with the fallout from the COVID-19 pandemic.

This will bring the amount set aside to fight COVID-19 to a whopping

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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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