This falls at the lowest end of the earlier official forecast announced last November.
Singapore’s official growth outlook for 2020 has been revised downwards to -0.5% to 1.5%, with growth expected to come in at the midpoint of 0.5%, according to the Ministry of Trade and Industry. This comes as the COVID-19 outbreak reversed the expected recovery of the global electronics cycle and the supposed pick-up of economic growth globally.
The forecast falls at the lowest end of MTI’s earlier GDP forecast of 0.5% to 2.5%, announced last November 2019.
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