Singapore warns of slow recovery as virus slams Asia exporters

“The painful truth is this – we are not returning to a pre-Covid world. Recovery will be some time yet, ” said trade minister Chan Chun Sing.

SINGAPORE: Singapore’s record recession was deeper than first thought in the second quarter, data showed, signalling a lengthy path to recovery as the coronavirus pandemic dealt a major blow to Asia’s trade-reliant economies.

The city-state has been hit hard by Covid-19 with the country under a lockdown for most of the second quarter to curb the spread of the virus.