64% of Singaporeans believe they will lose more money in 2020

Faith in the government still remains at a high level.

64% of Singaporeans expect they will be financially worse off in 2020 compared to 2019, according to a Blackbox survey. This increased by 19 percentage points from the 45% who said the same in the post-Budget carried out in February.

Meanwhile, 7% of Singaporeans said they have lost their job already, whilst 15% have had their wages reduced, and 17% are working lesser hours.
Despite the worrying economic circumstances, faith in the Government remains at a high level, with a full 54%, scoring 8 out of 10 in the resilience budget. The average score was 7.4 out of 10, up from 6.7 in comparison to February’s budget.

However, 85% of those surveyed said the government should postpone the general election until after the crisis is over.

The impact of the coronavirus is hitting the country both in health and economic terms as apart from reported job losses and reduced wages/working hours, 31% of Singaporeans are now also working and studying from home.

In addition, 76% believe the number of cases will continue to increase in the next two weeks, whilst 5% of Singaporeans know someone who has contracted the virus and 4% have a family member who has contracted it.

Photo courtesy of Pexels.com