President Halimah Yacob yesterday gave her assent to a second Supplementary Supply Bill, which will fund Covid-19 support measures totalling $33 billion.
The move formally authorises the Fortitude Budget and provides for the fourth tranche of Covid-19 relief measures announced last month by Deputy Prime Minister Heng Swee Keat. The latest support package could draw up to an additional $31 billion from Singapore's past reserves.
In all, the Government has set aside nearly $100 billion for Covid-19 support packages.
In a Facebook post, the President said that when the relevant agencies briefed her and the Council of Presidential Advisers last month, all the parties were convinced these measures were necessary for the exceptional circumstances facing the nation. It was on this basis that she gave her assent to the Bill, notwithstanding its draw on past reserves.
