Budget 2020: Silver Lining in the Stormy Clouds

On 17 February, the day before Deputy Prime Minister and Finance Minister, Heng Swee Keat delivered the Budget Statement, it was reported that Singapore’s economic growth for 2020 would be revised downwards (between -0.5% and 1.5%)[1]. Synchronously, the number of COVID-19 cases in Singapore continued to increase as the days went by. Naturally, Singaporeans were rendered trepidatious as 2020 seemed to be a year marked by ambiguity and apprehension.

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