Singapore worries about looming recession due to COVID-19

VNA
The possibility of a recession looms over Singapore and the country’s economy will take a hit, Singaporean Prime Minister Lee Hsien Loong has said.

Tourists view the ArtScience Museum located within the integrated resort of Marina Bay Sands in Singapore (Photo: AFP)

Tourists view the ArtScience Museum located within the integrated resort of Marina Bay Sands in Singapore (Photo: AFP)

In a recent interview, he said the impact, particularly in the next few quarters, will be significant as the country battles a very intense outbreak.
Singapore is imposing a travel ban on visitors from China following the outbreak of the virus, although China is the biggest source of visitors to Singapore.
Nine more COVID-19 cases have been confirmed in Singapore, bringing the total to 67, the country’s Ministry of Health said on February 14.
Next week, Singapore is to announce economic growth statistic in Q4 2019 and roll out an economic package to mitigate the economic fallout from COVID-19 impact.
Experts predict the country’s economy will expand between 0.5 percent and 2.5 percent this year.

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