Virus may be more damaging than financial crisis, Singapore’s PM says

Singapore Prime Minister Lee Hsien Loong. - Bloomberg

SINGAPORE: The economic fallout from the coronavirus could be more serious than the damage done by the 2008 global financial crisis for Singapore, according to Prime Minister Lee Hsien Loong.

"We can’t tell when the pandemic will end, but it will likely last at least this year, and quite possibly longer, ” Lee said in a Facebook post. "The economic hit will likely be more serious than the Global Financial Crisis, and longer-lasting too, even beyond the end of the pandemic.”