Merlion statue in Singapore.
Athanasios Gioumpasis | Getty Images
Singapore on Tuesday said it has set aside 5.6 billion Singapore dollars ($4.02 billion) in the coming year to help businesses and households tide through the ongoing coronavirus outbreak.
The Southeast Asian country has reported one of the highest numbers of coronavirus — now known as COVID-19 — infections outside China. As of Monday noon, Singapore has had 77 confirmed cases, 24 of which have been discharged, said its Ministry of Health.
“The outbreak will certainly impact our economy,” said Heng Swee Keat, Singapore’s deputy prime minister and finance minister, in his speech outlining the country’s budget.
Economic measures that Heng announced include schemes to help companies retain workers, manage their wage bills and corporate tax rebates. There will be specific measures to help the five sectors most vulnerable to the virus outbreak, which are tourism, aviation, retail, food and point-to-point transports…