COVID-19 downturn to be more prolonged than past recessions, slow recovery for jobs market: MAS | Video

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COVID-19 downturn to be more prolonged than past recessions, slow recovery for jobs market: MAS | Video

(Updated: )

The ongoing economic crisis caused by the COVID-19 pandemic is “deeper and likely to be more protracted” than past recessions, the Monetary Authority of Singapore said on Wednesday (Oct 28). Some parts of the economy, especially those that are travel-related, may not return to pre-pandemic levels by the end of next year as the Singapore economy faces a “gradual but uneven” recovery, the central bank added in its latest half-yearly macroeconomic review.

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