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.

Unlock 30% Savings on Ad-Free Access Now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
GDP , Covid-19 , coronavirus , recession , exports

Next In Business News

Ecobuilt announces CEO resignation, appoints successor
MSPO-ASSC deal to drive demand for Malaysia's sustainable palm oil in Japan
Hong Leong Bank issues RM400mil Tier 2 subordinated notes
SC adds 59 entities to investor alert list in 1Q
Ringgit rebounds to end higher against US dollar
SD Guthrie, SDP team up to turn Carey Island into industrial & logistics hub
Vanzo taps Taiwan market with exclusive Watsons distribution deal
Gadang bags RM92.5mil contract to widen KL-Karak Highway
FBM KLCI ends higher as caution caps momentum
Bank Negara’s international reserves edge up to US$119.9bil

Others Also Read