Heng unveils extensions to support schemes, new economic strategy

Singapore

HOW Singapore responds to Covid-19 today will shape the country's growth in the coming five to 10 years, Deputy Prime Minister and Finance Minister Heng Swee Keat said in Parliament on Monday.

In a ministerial statement, he gave an overview of the government's approach to Covid-19 over the next six months - including extensions to support schemes - and its refreshed economic strategy for the future.

"We are at a critical juncture in our economic development and the stakes are high," he said.

In the next few years, how economies respond to the transition will determine whether Covid-19 brings benefits or disadvantages - whether at the firm level, sector level, or across the economy.

"We must take the actions now that will allow us to not just get through Covid-19, but more crucially, gain ground that will pave the way for our next lap of economic growth in the next five to 10 years," he s…