Support for Businesses
Key Measures Announced in the Singapore Budgets 2020
Various measures were announced by the Deputy Prime Minister and Minister for Finance, Mr Heng Swee Keat, to help businesses address cash flow, cost and credit issues in his Budget announcements in 2020. Up to 26 May 2020, four (4) separate Budget announcements were made: Unity, Resilience, Solidarity and Fortitude Budgets. In these Budget announcements, there are broad-based measures that are available to all businesses to overcome the immediate challenges posed by the COVID-19 outbreak, as well as measures that are specific to certain sectors which are most directly affected by COVID-19.
In this article, we examine some of the key broad-based and sector-specific measures announced in the Singapore Budgets 2020.