Singapore will likely spend big to soften the economic blow from coronavirus outbreak.
Singapore has reported one of the highest numbers of confirmed coronavirus cases outside China.
A package of measures to help businesses and workers tide through the virus outbreak could cost at least 700 million Singapore dollars , said Chua Hak Bin, senior economist at Maybank Kim Eng. He explained in a note earlier this month that the current outbreak could have a "deeper" impact on Singapore compared to the SARS epidemic in 2003. That's because the country has since increased its economic links with China, which is now Singapore's largest export market and biggest source of international tourists.
Budget 2020 is the fifth — and most likely the last — before a new electoral cycle. Singapore's next election is due by April 2021.
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