Singapore sees sharper economic slump

Schools remain shut, foreign workers are now confined in their dormitories and more workplaces are closed, with only the most essential services operating. (File pic shows tourists in Singapore before the 'circuit-breaker".)

SINGAPORE: Singapore is bracing for a sharper economic contraction this year than an earlier forecast of a slump of as much as 4%, as the coronavirus pandemic continues to spread globally and disrupts supply chains.

The city-state is “very likely” to see a sharper fall in the GDP, trade and industry minister Chan Chun Sing said yesterday in an interview with Bloomberg Television’s Haslinda Amin.