Asked on 26 Mar 2020
This is on top of the $6.4 billion announced earlier.
This question is no longer accepting new answers because it has been merged with What do you think about the second stimulus package by the government to help Singapore cope with the Covid-19 pandemic?
We've already got a question thread regarding this topic here, do check it out!
Just to summarise some of the sentiments on the other question thread, the S$48 billion that was drawn from Singapore's reserves is definitely needed to help cushion the economic impact of the virus on Singapore's economy. Whether or not the Resilience Budget is enough is yet to be seen, but the swift response from the government so far has been encouraging, and we know that they won't hesitate to draw more from the reserves if required.