The sentence was from Singapore’s Deputy Prime Minister Heng Swee Keat. (No prizes for guessing who will be the next in line to become the Prime Minister of Singapore yeah). He was announcing the BUDGET for Singapore and it’s aimed at a larges fiscal boost to the Singapore economy which has been affected by COVID-19. He made it clear however the budget is not just for weathering of the COVID-19 but will support Singapore’s long-term goal of economic transformation.
Article in straitstimes.com . Singapore Deputy Prime Minister Heng Swee Keat said, “This virus outbreak will have a fairly negative impact on the global economy and also on the Singapore economy.” However, he said that Singapore will still see a positive growth for 2020. The Budget will support this growth by providing a failr large fiscal boost to the economy.
said Mr Heng in an interview with Bloomberg Television yesterday. Despite that, he said, Singapore still expected to see some positive growth this year “and this Budget will provide a fairly large fiscal boost to the economy”, though much depended on how the virus hits the global economy in the coming months. He said, “We’re dealing with a Budget not just in the short term but using the stabilisation measures… to also work on our transformation.” The article is a very comprehensive one. Please refer to Article in straitstimes.com
I think what the Deputy Prime Minister said should be applicable to everyone who’s a working professional too. (majority of everyone anyway). COVID-19 provides an opportunity for those who wants to buy undervalued properties, stocks and even many other investments which has now become more attractive due to current negative sentiment. It will not be here forever, just as COVID-19 will soon be a thing of the past when a vaccine is found and rolled out to the world. There are already countries where they said the vaccine is already in testing stages.
COVID-19 does not also change the fact that changes will continue to happen. Just look at how A.I. and robots are already transforming the job market. Retrenchments are going to continue happening and for many jobs, it’s no longer a question of if but more of when… Could we do something else when we are laid off? This is ‘an eye for the future.’ Happy preparing.
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