1. Governments worldwide roll out new stimulus packages
- Straits Times, 25 November 08
Governments from Europe to Asia announced fresh plans to stimulate their economies to counteract a financial meltdown not seen since the Great Depression.
United States President-elect Barack Obama is reportedly pushing a new stimulus package that could be as large as US$700 billion (S$1 trillion), ready to be signed on his first day(20 Jan 09) in office.
2. An expansionary budget in 2009
- Straits Times, 22 November 08
In Singapore, Finance Minister Tharman Shanmugaratnam said that the 2009 Budget (to be announced on 22 January) will focus on both counter-cyclical measures as well as the longer-term measures that we need to put in place to prepare Singapore for recovery and for years of growth ahead of this current cycle.
