THE COVID-19 pandemic has placed extraordinary demands and created near insurmountable challenges that both governments and business leaders have to respond effectively to.
The humanitarian toll and economic costs create fear among citizens and workers and their families on how they will pay their bills and household expenses if their livelihoods are affected during this uncertain period.
I believe the Resilience Budget will address the concerns faced by businesses and workers across all industries (although those from aviation and travel/tourism-related industry will benefit more than others due to the impact of COVID-19 on them) as it is designed to protect jobs, support workers, and protect livelihoods as well as keep businesses afloat to avoid bankruptcy and laying off workers.
These actions show the government intends to strengthen economic and social resilience during these unprecedented challenging times caused by the COVID-19 crisis.
It is gratifying to note DPM Heng Swee Keat’s reassurance that if the current crisis worsens the government will not hesitate to put in place more measures to address it appropriately and effectively.
Prof Sattar Bawany is the CEO of CEE Global.
Here are the links to all the Friday Focus articles on The Resilience Budget:
- Impressive…But Wait For The Details
- Unexpected Support
- Time To Prioritise
- Keep The Money Flowing
- A Generous Helping Hand
- Some Questions Unanswered
- What About The Hardworking Foreigners?
- Cash Is King
- Living Day To Day
- Mind The Gaps!