Jump to content

Singapore economy seeing signs of stabilisation, PM says


Recommended Posts

Posted

Singapore economy seeing signs of stabilisation, PM says

 

2020-12-31T102720Z_2_LYNXMPEGBU0F9_RTROPTP_4_SINGAPORE-ECONOMY-PM.JPG

FILE PHOTO: A man stands in front of a screen showing a telecast of Singapore's Prime Minister Lee Hsien Loong addressing the outbreak of coronavirus disease (COVID-19), at the central business district in Singapore, April 3, 2020. REUTERS/Edgar Su/File Photo

 

SINGAPORE (Reuters) - Singapore's economy, which is set for its worst contraction this year due to the COVID-19 pandemic, is seeing signs of stabilisation, its prime minister said on Thursday.

 

"After our most severe downturn since independence, we look forward to a rebound in 2021, although the recovery will be uneven, and activity is likely to remain below pre-COVID-19 levels for some time," Lee Hsien Loong said in a New Year message.

 

Singapore's economy is likely to contract between 6% and 6.5% this year, marking its worst recession, and grow 4% to 6% in 2021, according to official forecasts.

 

"Economically, we are not yet out of the woods either, but we are beginning to see signs of stabilisation," Lee said.

 

reuters_logo.jpg

-- © Copyright Reuters 2020-12-31
 

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...