Prime Minister Lee Hsien Loong cautioned Singaporeans during his nationwide address on 23 Jun to prepare for the “full economic fallout” of Covid-19.
Despite the government’s efforts to bolster the workforce and reduce unemployment, PM Lee stated that it is likely for unemployment and retrenchments to continue increasing.
Though the country has already been projected to have its worst recession yet, he warned Singaporeans that more is to come.
As such, Singaporeans need to hunker down until the storm passes, and press through the impending economic fallout.
PM Lee continued, saying the government is determined to help Singaporeans through the hardship.
They plan to save as many jobs as possible, as well as create new jobs in different sectors.
Additionally, they intend to do all they can to support business and industries weather the storm, and restructure themselves moving into the future.
Singapore’s economic fallout will likely be the worst one to date. It’s not clear how bad the repercussions will be, even with projections and predictions.
However, PM Lee assured Singaporeans that we will survive, and “pick up when the sun shines once more”.
If anything, fortitude and unity are what will get us through this crisis.
Featured image by MS News.
The Standard Operating Procedure called for the SPS driver to stop and assess damages.
You can also score free gifts and win a trip to Korea.
The suspect adopted another cat from a fosterer after completing his statement.
The public can pay their respects "on a strict queue basis" with no exceptions, he…
The heavy rains have refilled natural water supplies after years of drought, but also collapsed…
The man also faces an additional charge for drink driving and is set to be…