as everyone should know, Singapore’s GDP is estimated to have fallen by 2 %to 5%.
if you still do not understand the severity of this whole economic crisis, let me give you a comparison.
this recession is said to be the worst economic downfall since 1964, the Singapore government has also decided to dip in to it’s past reserves to tide Singaporeans through this crisis. Something we haven’t done in many years. ( not that i know how many years that refers to.)
global manufacturing fell by over 20% which has resulted in a decline in cargo volumes and export, export being one of Singapore’s cash cows.
Many are also expected to lose their jobs after Chinese new year.
but do not fret. kaisu people like me.
the singapore government understands how much money means to us.
like every damsel in distress, there’s a hero.
the singapore government has came up with an “ingenious plan” ( not proven to be true yet)
THE RESILIENCE PACKAGE.
estimated to cost a grand total of 20.5 billion, the resilience package aims to saves jobs to the maximum extent possible during this recession.
of this monumental sum of 20.5b, 5.1b will go to preserving jobs, 5.8b will go to stimulating bank lending,
2.6b is expected to enhance business cash flow problems and competitiveness, total sum contributed to supporting families ( LOW INCOMES ) sums up to 2.4b and last but not least, 4.4b will be used to develop first class infrastructures, referring to HDBs. hohohoh.
“为应对自独立以来的最严重经济危机，政府昨天宣布总值205亿元的振兴配套(Resilience Package)，缓解企业与国人在当前所面对的问题，并增强新加坡长远的竞争力。 ” 联合早报。
1.how long exactly is this recession going to last? singapore has only so much reserves.
this resilience package only works for so long, what’s singapore going to do after 2009?
2.do middle income families stand to gain from this recession?
3.would this scheme really work?
mr bryan tan is absolutely correct, Singaporeans only worry about finances and money. well look at me? whatever happened to save the earth?
mean bean gayle