Singapore cuts economic forecast, on course for worst recession since independence

Singapore’s trade ministry on Tuesday predicted the bellwether economy could shrink by up to 7 per cent, a level not seen since it gained independence as signs mount of a slow road to recovery from the coronavirus recession amid concerns of future waves of the pandemic.The city state’s growth forecast now stands at a range of -7.0 per cent to -4.0 per cent, down from the official prediction of -4.0 to -1.0 per cent in March.Singapore’s US$354 billion economy – often scrutinised as an indicator…

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