Singapore plans biggest budget deficit in years to meet virus threat

Construction workers wearing masks in precaution of the coronavirus outbreak carry pipes as they pass a building in the Central Business District in Singapore February 18, 2020. REUTERS/Edgar Su

SINGAPORE (Reuters) - Singapore on Tuesday announced around $4.5 billion(£3.5 billion) in financial packages to help contain the coronavirus outbreak in the city-state and weather its economic impact, paving the way for its biggest budget deficit in at least 15 years.

The wealthy city-state, one of the countries outside China hit hardest by the virus, has already cut its economic growth outlook this year and flagged the possibility of entering recession.