Singapore cuts 2020 GDP forecast range to -0.5% to 1.5% due to COVID-19 outbreak | Video
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Singapore cuts 2020 GDP forecast range to -0.5% to 1.5% due to COVID-19 outbreak | Video(Updated: )
After seeing its economy grow at a decade-low of 0.7 per cent last year, Singapore is expecting possibly even slower growth in 2020 and has downgraded its gross domestic product (GDP) forecast amid concerns about the ongoing COVID-19 outbreak.
Economic growth for this year is expected to come in at around 0.5 per cent, the mid-point of a new estimated range of between -0.5 per cent and 1.5 per cent, said the Ministry of Trade and Industry (MTI) on Monday (Feb 17).
Michelle Teo reports.