Singapore’s commercial activity registers its worst decline since 2008 due of the spread of Covid-19, as reflected a study carried out 151 companies in the Asian country.
The Singapore University of Social Sciences and Business Times magazine, conducted the survey indicating a severe reduction in revenue, sales and business, representing a decline in all of the country’s commercial activity.
Up to 84 percent of respondents predicted that business in the final three months of the year will be worse for the commercial area than in the same period of 2019 and 2008.
The biggers companies consulted expressed their concern, because the government assistance plans have been focused on small and medium-sized companies and the workforce, leaving out larger – scale commercial activity.
Prioritys: commercial activity or government support plan
Currently, the government is promoting an employment support plan that benefits 140,000 companies in the country. Last April, this measure was launched and the four million dollars was approved, approximate, for execution.
This initiative has a main objective to serve those companies affected by the Covid-19 pandemic, as well as to provide support to workers.
The restriction measures are maintained, the government plans for next June 1 to enter a new reactivation phaseof the national economy and commercial activity, however, the Covid-19 outbreak continues.
A total of 451 cases were confirmed on May 19 in Singapore, in a statement issued by the Ministry of Health, only one corresponds to a community case, while the other 450 come from citizens with work permits who live in dormitories.
To date, the total number of cases rises to 28,794, with 10,365 patients discharged and 22 deaths, while efforts continue to contain its spread throughout the national territory.