Singapore to spend S$5.5 billion to spur productivity
Singapore will spend S$5.5 billion in the next five years to spur productivity amid an attempt to reduce dependence on foreign workers, as the government shifts its focus from minimizing the impact of the global slowdown to boosting long-term growth.
Singapore, suffering its deepest recession since independence, will spend S$20.5 billion to help businesses and workers, Finance Minister Tharman Shanmugaratnam said today.