March 11, 2020 / 5:38 AM / in 17 days

Singapore preparing 2nd stimulus package to cushion coronavirus hit -report

SINGAPORE, March 11 (Reuters) - Singapore is working on a second economic stimulus package to help businesses and workers weather the worsening impact of the coronavirus outbreak, the Straits Times newspaper quoted the city-state’s finance minister as saying on Wednesday.

“Our first priority is the outbreak but, at the same time, we must look at how we can revive the economy,” said Heng Swee Keat.

In his budget last month Heng announced $4.5 billion in financial packages to help contain the coronavirus outbreak in the city-state and weather its economic impact.

One of the packages worth S$4 billion ($2.9 billion) was aimed at supporting the economy by helping firms and workers tide over a looming slowdown. ($1 = 1.3900 Singapore dollars) (Reporting by Aradhana Aravindan in Singapore; Editing by Muralikumar Anantharaman)

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