06 Oct 2020
Ref No.: 061020 (1)
Dear Valued ASPRI Members,
Ministerial Statement – Oct 2020: Response to COVID-19 • Roadmap for the Future
Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Mr Heng Swee Keat, delivered a Ministerial Statement in Parliament yesterday, Monday, 5th October 2020. He charted the path to recovery for Singapore, and explained how the country’s medium-term economic strategy will evolve to achieve inclusive and resilient growth.
Mr Heng also provided an update on the overall response to COVID-19, and outlined a three-pronged approach to a refreshed economic strategy that builds on the Industry Transformation Maps:
- Remaking Singapore as a Global-Asia node of technology, innovation and enterprise;
- Redoubling our efforts to foster inclusive growth;
- Investing in economic resilience and sustainability.
In total, the Government is dedicating about $100 billion to fight COVID-19. The challenging fiscal position is expected to go into Budget 2021. The Government will continue to spend prudently and invest in our people, and is determined to leave behind a better future for our children.
To read more about the Ministerial Statement, please click here.