SINGAPORE: Singapore’s Trade and Industry Ministry (MTI) has downgraded the republic’s Gross Domestic Product (GDP) growth forecast for this year to between -7.0 and -4.0 per cent from the previous range of -4.0 to -1.0 per cent.
This was in view of the deterioration in the external demand outlook for Singapore as well as the expected economic impact of the Circuit Breaker measures, the ministry said in a statement.
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