Global crisis and recession 4 Economic situation and prognosis for Singapore 7

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Budget Speech 2009
Keeping Jobs, Building for the Future

Delivered in Parliament on 22 January 2009 by Mr Tharman Shanmugaratnam, Minister for Finance, Singapore

A. Economic Performance and Outlook 4

Global crisis and recession 4

Economic situation and prognosis for Singapore 7

B. Resilience Package 9

Keeping jobs, building for the future 9

Keeping our focus on the future 10

Resilience Package: Five components 10

Emerging stronger 12

C. Jobs for Singaporeans 13

Jobs Credit 13

Re-skilling: SPUR for workers and professionals 16

D. Stimulating Bank Lending 20

Special Risk-Sharing Initiative (SRI) 21

The New Bridging Loan Programme 22

Trade financing 22

E. Enhancing Business Cash-flow and Competitiveness 25

Preparing for opportunities 25

i. Easing business cash-flow 27

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