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ARTICLE · 20 MAY 2020

COVID-19: Schemes, Grants And Reliefs

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On 6 April 2020, the Singapore Government announced additional measures under the Solidarity Budget to provide further financial support to businesses, in particular with labour and rental costs.

SingaporeCoronavirus (COVID-19)
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By Tan Choon Leng and Daniel Lee, JurisAsia LLC

The COVID-19 pandemic has greatly impacted our global economy, as companies around the world continue to face pressure in the break of international supply chains, disruptions to manufacturing, cash flow issues and labour shortages.

As a small and open economy that is highly integrated with the global economy, Singapore suffered its biggest contraction in a decade in the first quarter of 2020, as the COVID-19 pandemic prompted the Singapore Government to cut its full-year gross domestic product forecast and plan for a deep recession. In an effort to continue to support the Singapore economy, the Singapore Government had, on 26 March 2020, announced a supplementary budget to Budget 2020, titled the Resilience Budget. The Resilience Budget sought to introduce measures worth over S$48 billion to support workers, help enterprises, and strengthen economic and social resilience. On 6 April 2020, the Singapore Government

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