Here are the key highlights of a 58-page report by the Ministry of Finance on Thursday , which assessed the effects of key Covid-19 Budget measures introduced in 2020 and 2021:The Budget measures, aided by accommodative monetary policy, propped up the economy. Without them the real domestic product would have shrunk 10.7 per cent 2020. Instead it shrank just 4.1 per cent. The measures also saw real GDP grow by 7.6 per cent in 2021, while without them it would have grown just 6.8 per cent.
The measures taken also helped to prevent 33,000 severe infection cases and 112,000 hospitalisations, according to the Ministry of Health's projections. In particular, the Jobs Support Scheme was found to have saved an estimated 165,000 local jobs for the period between March and December 2020.
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