Singapore Government
Singapore Budget 2009
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Resilience Package  
The Resilience Package has five components consisting of:


Jobs for Singaporeans
To help Singaporeans stay employed, Government will spend $5.1 billion by:

  • Introducing the Jobs Credit Scheme
  • Enhancing the Skills Programme for Upgrading and Resilience (SPUR)
  • Providing the Workfare Income Supplement (WIS) Special Payment
  • Expanding recruitment across the public sector


Stimulating Bank Lending
To ensure that viable companies continue to have access to credit to sustain their operations and keep jobs, government will spend $5.8 billion to stimulate bank lending by:

  • Enhancing existing bank lending schemes
  • Introducing the Special Risk-Sharing Initiative (SRI) comprising a new Bridging Loan Programme and risk-sharing schemes for trade financing


Enhancing Business Cash-flow and Competitiveness
Government will spend $2.6 billion to support business cash-flow and strengthen Singapore’s competitiveness through:

  • Tax concessions and measures
  • Easing cash-flow and sharpening Singapore’s competitiveness


Supporting Families
$2.6 billion will be spent to provide additional support for families and communities during this downturn through:

  • Direct assistance for Singaporean households
  • Increased targeted help for vulnerable groups
  • Additional support for Charitable Giving and the Community


Building A Home for the Future
Government will spend $4.4 billion to develop Singapore as a global-city and best-home for Singaporeans by:

  • Bringing forward infrastructure projects
  • Rejuvenating public housing estates
  • Enhancing sustainable development programmes
  • Upgrading education and health infrastructure

The unprecedented severity of the global financial and economic crisis justifies a draw from Singapore's past reserves. The President has given in-principle approval for the Government to draw $4.9 billion from past reserves to fund the Jobs Credit Scheme and Special Risk-Sharing Initiative.

The revised Overall Budget Balance for FY2009 is a deficit of $8.7 billion (3.5% of GDP). The Basic Balance, which excludes the transfers to endowment funds as well as the contributions from Net Investment Returns, is a deficit of $14.9 billion (6.0% of GDP) imparting a large fiscal boost to the economy this year.