Tuesday, 11 August 2020
Singapore enters worst recession in 55 years, ministry downgrades growth forecast - MalayMail
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SINGAPORE, Aug 11 — The government has downgraded Singapore’s growth forecast for 2020 as the country enters into its worst recession since independence.
From an initial projection that the economy will shrink between 4 and 7 per cent, the Ministry of Trade and Industry (MTI) said today that gross domestic product (GDP) will contract between 5 and 7 per cent.
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