Singapore economy to return to growth next year, forecast at 4% to 6%

Singapore's economy has contracted by 6.5 per cent on a year-on-year basis in the first three quarters of the year. - ST

SINGAPORE (The Straits Times/ANN): Singapore’s economic growth will rebound in 2021 by the most in a decade, helped by a low base, but gross domestic product will probably not return to pre-Covid-19 levels until the end of next year.

The economy will also contract by 6.5 to 6.0 per cent in 2020, compared to the previous estimate of -7 to -5 per cent, the Ministry of Trade and Industry said on Monday (Nov 23) while presenting the Economic Survey of Singapore.