Singapore cuts GDP forecast for 2020, cites risk to China’s growth from coronavirus


Singapore’s trade ministry downgraded its growth forecast for 2020 to a range of -0.5 to 1.5 per cent from 0.5 to 2.5 per cent previously, citing the fallout from the novel coronavirus outbreak on China’s economy that would affect the region.The last time the Singapore economy recorded a full-year contraction was in 2001 due to the dotcom crash, when growth was at -1.1 per cent. But the ministry added it expected growth to come in at around 0.5 per cent.“In China, GDP growth in 2020 is expected…

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