On a quarter-on-quarter basis, GDP contracted 10.6 per cent, the Ministry of Trade and Industry said in a statement. Photo: Reuters On a quarter-on-quarter basis, GDP contracted 10.6 per cent, the Ministry of Trade and Industry said in a statement. Photo: Reuters
On a quarter-on-quarter basis, GDP contracted 10.6 per cent, the Ministry of Trade and Industry said in a statement. Photo: Reuters

Singapore braced for recession as coronavirus forces economy to shrink most in 10 years and elections loom

  • Singapore’s first-quarter GDP fell 10.6 per cent from the previous three months and the government expects negative growth of between -4 and -1 per cent in 2020
  • With a recession on the cards, the government’s stimulus package to be announced Thursday will ensure some stability as the country prepares for elections, analysts said

Topic |   Coronavirus pandemic
On a quarter-on-quarter basis, GDP contracted 10.6 per cent, the Ministry of Trade and Industry said in a statement. Photo: Reuters On a quarter-on-quarter basis, GDP contracted 10.6 per cent, the Ministry of Trade and Industry said in a statement. Photo: Reuters
On a quarter-on-quarter basis, GDP contracted 10.6 per cent, the Ministry of Trade and Industry said in a statement. Photo: Reuters
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