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Singapore worries about looming recession due to COVID-19

The possibility of a recession looms over Singapore and the country’s economy will take a hit, Singaporean Prime Minister Lee Hsien Loong has said.
Singapore worries about looming recession due to COVID-19 ảnh 1Tourists view the ArtScience Museum located within the integrated resort of Marina Bay Sands in Singapore (Photo: AFP)

Hanoi (VNA) – The possibilityof a recession looms over Singapore and the country’s economy will take a hit, SingaporeanPrime Minister Lee Hsien Loong has said.

In a recent interview, he said the impact,particularly in the next few quarters, will be significant as the countrybattles a very intense outbreak.

Singapore is imposing a travel ban onvisitors from China following the outbreak of the virus, although China is the biggestsource of visitors to Singapore.

Nine more COVID-19 cases have beenconfirmed in Singapore, bringing the total to 67, the country’s Ministry ofHealth said on February 14.

Next week, Singapore is to announce economicgrowth statistic in Q4 2019 and roll out an economic package to mitigate theeconomic fallout from COVID-19 impact.

Experts predict the country’s economy willexpand between 0.5 percent and 2.5 percent this year./.  
VNA
#COVID-19#Coronavirus#nCoV#Singapore#Singaporean Prime Minister Lee Hsien Loong#travel ban#Singapore's economy#vietnamplus#Vietnam News Agency
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