Singapore cuts 2020 GDP forecast due to virus

Pedestrians wearing protective masks walk past the Marina Bay Financial Centre in Singapore, on Wednesday, Feb. 12, 2020. Photographer: Ore Huiying/Bloomberg

SINGAPORE: Singapore on Monday downgraded its 2020 economic growth forecast as it braces for a hit from the novel coronavirus outbreak, opening up the possibility of a recession this year.

The revision came as the trade ministry reported final fourth-quarter GDP data that was slightly higher than advance estimates, but also downgraded its 2020 exports forecast.