The Finance Minister, Mr Tharman Shanmugaratnam unveiled a massive $20.5 billion economic expansionary package on 22 January 2009 to help Singaporeans deal with the worst global recession in 60 years.

Dubbed as the “Resilience Package”, it has the following five components:

The Resilience Package focuses especially on helping businesses to retain workers, by helping them to meet their costs and strengthen their cash-flow, and by enhancing their competitiveness. It will provide more support and confidence for the domestic sector of the economy than efforts to stimulate consumption demand directly.