To Help New Parents Meet Expenses During Pandemic, Singapore Will Provide 'Baby Bonus'
Heng said the payment would help their parents spend, but did not confirm how much they would pay. Despite the great success of public health responses to the epidemic, Singapore¡¯s economy fell into a deep recession.
Singapore is set to provide a one-off payment to support parents looking to have a baby during the ongoing pandemic.
According to CNN, the country's deputy prime minister said the incentive would help reassure people who face financial pressure and are worried about their jobs.
Reuters
The CNN quoted Heng Swee Keat saying, ¡°I got feedback that COVID-19 has caused eager parents to postpone their plans to become parents.¡±
¡°This is understandable enough, especially when they are faced with uncertainty about their income,¡± he added.
Heng said the payment would help their parents spend, but did not confirm how much they would pay. Despite a largely successful public health response to the pandemic, Singapore's economy has been thrown into a deep recession.
GDP likely shrank 12.6% in the second quarter compared to the same time the previous year, marking "the steepest drop on record," according to economists.
Reuters
Singapore has one of the lowest birth rates in the world, a statistic that successive governments have attempted unsuccessfully to reverse.
The fertility rate now stands at just 1.14 births per woman, according to its national statistics body.
Also Read: It's All About Family Planning - Migrants In Bihar Get Free Condoms After Quarantine
Singapore has struggled to reverse the trend since the 1980s, with public campaigns encouraging childbirth and a host of financial and tax incentives unable to stop its slump.
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"Like many developed countries, Singapore's key population challenges are our low fertility and an ageing population," the government wrote in a 2011 report. "Our aim is to achieve a sustainable population that supports both economic growth and social cohesion, so that Singapore remains vibrant and liveable."
Also Read: 'Contraceptive Jewellery' Could Be A Reality Soon, May Make Family Planning More Attractive
The country has avoided the worst of the global pandemic, isolating suspected cases early, imposing strict lockdowns when clusters of infections became apparent and using technological innovations to rush out a contact tracing network.
Just 27 people have died as a result of COVID-19, according to Johns Hopkins University.
All Inputs CNN
