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Covid-19 impact pushes Singapore's 2020 GDP forecast into negative turf

Forecast of -4 to -1% contraction sign of further economic pain to come for other Asian economies, says one analyst

Vivienne Tay

Published Thu, Mar 26, 2020 · 09:50 PM

Singapore

SINGAPORE's official growth forecast has hit negative territory for the first time in nearly a decade. This comes as the Republic braces itself for what is likely the worst economic contraction since independence.

The Ministry of Trade and Industry (MTI) on Thursday further downgraded Singapore's official growth forecast to between -4 per cent and -1 per cent, from the -0.5 per cent to 1.5 per cent range posted in February.