The Covid-19 pandemic has caused a simultaneous demand and supply shock to the global economy. Incomes, consumption and investment have cratered; supply chains have been broken and twisted.

Yesterday, rounding up the Parliament debate on the Fortitude Budget, Deputy Prime Minister and Finance Minister Heng Swee Keat painted a grim picture of how these shocks reinforce each other and threaten to impair the long-term productive capacity of economies.

The world took eight to 10 years after the 2009 global financial crisis to recover to pre-crisis unemployment levels, he said, adding that it may take even longer to bounce back from the effects of Covid-19.

Government interventions have taken centre stage, as people looked to their elected leaders to organise and mobilise a response.

It has been no different here.

The Government has set aside unprecedented fiscal firepower, committing almost $100 billion, or close to 20 per cent of GDP, for Covid-19 support measures across four Budgets since February. The question now is whether this fiscal support will translate into jobs, both saved and created, and help Singapore rebound faster and stronger.

To this end, Mr Heng spelt out three thrusts of the Government's jobs and skills package.

First, it will save jobs in viable businesses, and preserve workforce capability in sectors which are temporarily hard-hit.

Over $11 billion has already been given out to reduce wage costs, such as through the Jobs Support Scheme (JSS) which provides wage subsidies on the first $4,600 of the gross monthly pay of local workers.

But he stressed that the JSS is not a crutch for companies: "The JSS is what its name says clearly - it is meant to support jobs. We are not supporting businesses for their own sakes. We are supporting businesses - defraying their wage costs - so they can retain and pay workers."

Second, new pathways to jobs for Singaporeans of all ages and profiles will be opened. Details of some 100,000 job opportunities in growth sectors, such as financial services and healthcare, were outlined by Manpower Minister Josephine Teo on Thursday.

Third, the Government will give more help to groups that are hit harder, including graduating students, mid-career workers and self-employed persons. This will be in the form of jobs and traineeships, and initiatives such as the SkillsFuture Mid-Career Support Package to help those in their 40s and 50s reskill and make career transitions.

He also highlighted the unique position of strength from which Singapore can deal with the pandemic, thanks in part to its hefty reserves.

From France and Germany to the United Kingdom and Japan, governments are giving cash to households, and guaranteeing debt so that companies can survive. To fund these vast deficits, governments are issuing bonds at a breathtaking rate.

In countries that have taken on significant debt to pay for their support measures, future generations will ultimately shoulder this debt, in the form of higher taxes, higher inflation or lower returns on their retirement assets.

Responding to Mr Saktiandi Supaat (Bishan-Toa Payoh GRC), Mr Heng said the Government will also not borrow to fund recurrent spending, as this will mean less resources for future generations after the debt is repaid.

The same principle applies even in the current low interest-rate environment, he added.

"There is no certainty that we will be able to repay accumulated debt obligations in the future. This is especially so with the uncertain economic outlook, where all countries, including Singapore, will be operating in a tighter fiscal space," he said.

While the Government's fiscal probity was not in doubt, some MPs questioned its handling of the outbreak. Workers' Party chief Pritam Singh (Aljunied GRC) said officials could have been more frank and direct in their communication, about the supply constraints leading to the lack of universal wearing of masks earlier on, for instance.

Rebutting this, Senior Minister of State for Trade and Industry Chee Hong Tat said the relevant media reports and information could be found in the public domain.

"This government has always been open and transparent with Singaporeans," he said. "And when there's new information, there's new evidence, we would likewise adopt an open and transparent manner in our communications because we know that is important in our collective fight against this pandemic."

Mr Singh, together with Non-Constituency MP Leon Perera, also felt there were many finely calibrated rules that caused confusion on the ground during the circuit breaker.

Mr Perera said that frequent and unclear rules can lead to fatigue and cynicism, while Mr Singh cited the two-person limit on visits to parents and grandparents even as safe distancing rules on public transport were lifted, as an example of "piecemeal announcements, U-turns and positions that did not gel intuitively".

He called for a thorough review and account of the Government's Covid-19 response.

Whether or not one is warranted, it is worth noting that Covid-19 has been uncharted territory for politicians and administrators alike.

The scale of the crisis exposed the sheer granularity and complexity of business needs and individual circumstances on the ground. It drove home the importance of flexibility and clear communication in managing these needs.

As Mr Heng said, fortitude itself is not an accidental quality. It is forged in crises past, and hardened in crises present.

The pandemic may have singed Singapore's sails and forced its ship to retreat into the harbour. But there are reasons to remain confident in the country's future - from the clear Budget focus on supporting workers to retain their jobs or move into new ones, to the Government's heavy investment in people and doubling of social spending over the last 10 years.

It is also an opportunity, as Mr Heng said, "to repair, upgrade our ship and install new instruments, re-orientate our mental compass, and strengthen our sailors, so that when the fair wind comes, we will sail out faster and further than ever before".

Correction: An earlier version of the report said it was Senior Parliamentary Secretary (Trade and Industry) Tan Wu Meng who rebutted Workers' Party chief Pritam Singh. It should be Senior Minister of State Chee Hong Tat instead. We are sorry for the error.