During times like this, fiscal tools will be good. Like public spending, putting more money into people's pocket to spend. This one will kick start the economy.
2nd thing you can do is to lower your interest rate and encourage businesses to expand with your lower rate lending.
But the neo liberal govt wanted to earn back what they should have spent. They up the rental, petrol price remain unchanged, up the premium of the medisave and integrated shield. Bring in more foreign PMET to replace Singaporean. One end they bring in PMET to replace Singaporean, on the other they tell you is your home. You should die defending it. You should give birth more so that we can replace our own population. So if you can't fend for yourself, what do you gonna do? You still want to clear plates when you hit 60s?
That's how wrong with Singapore now.