Singapore PM says recession possible due to Covid-19 outbreak

Prime Minister Lee Hsien Loong taking a photo with workers from baggage handling at Changi Airport Terminal 3, on Feb 14, 2020. - ST

SINGAPORE (The Straits Times/ANN): The impact of the coronavirus outbreak on Singapore's economy has already exceeded that of the severe acute respiratory syndrome (SARS) back in 2003, Prime Minister Lee Hsien Loong said on Friday (Feb 14), adding that a recession could be a possibility.

The impact, particularly over the next few quarters, will be significant as the country battles a "very intense outbreak", said Lee during a visit to Changi Airport Terminal 3.