Singapore about to enter recession this year, due to Coronavirus pandemic: Monetary Authority of Singapore

Singapore

Despite its best attempts at curbing the spread of the deadly coronavirus, Singapore finds itself at the brink of recession. The country will enter into recession this year due to coronavirus and the long-lasting impact of the lockdown it has implemented. The city-state’s economy is suspected to drop below the forecast range of -4 to -1 percent to record its worst-ever contraction, as notified by the country’s central bank on Tuesday.  The Monetary Authority of Singapore (MAS) in its half-yearly macroeconomic review warned of job losses and lower wages offered…

Read More