He said the Ministry of Finance and MTI will monitor the economic situation very closely, and will see whether or not there is a need for additional help, for affected businesses as well as workers.
Singapore is bracing for “greater impact” on certain segments of its economy with the latest round of tightened Covid-19 measures, but still expects positive GDP growth this year.
Responding to queries at the multi-ministry taskforce press conference, newly-appointed Finance Minister Lawrence Wong said when the Ministry of Trade and Industry in April projected GDP to grow at the higher end of the 4-6% range, that was a time where “we could see there was a certain momentum to economic activities recovering. It's very hard to say how things will pan out going forward.”
