SINGAPORE’S official growth forecast for 2020 has been downgraded, with authorities bracing for the possibility of negative growth should the novel coronavirus outbreak be more severe than anticipated, even as 2019 full-year growth came in consistent with earlier flash estimates. The Ministry of Trade and Industry (MTI) is expecting full-year gross domestic product (GDP) growth […]
Read MoreIN A sneak preview of what are going to be unveiled at the upcoming Budget to counter the adverse economic impact from the coronavirus outbreak, Finance Minister Heng Swee Keat announced that there would be broad-based measures to support viable companies as well as help workers stay in their jobs. Among the slew of programmes […]
Read MoreSINGAPORE exports were back in negative territory in January 2020, dragged down by a double-digit drop in petrochemical shipments, according to figures released on Monday. Non-oil domestic exports (NODX) fell by 3.3 per cent year on year in January, after December 2019 offered a brief reprieve from a nine-month contraction, with growth of 2.4 per […]
Read MoreSINGAPORE has cut its export forecasts for 2020, no thanks to the impact of the novel coronavirus outbreak on key trade partners, as well as the drag from lower oil prices. Year-on-year change in non-oil domestic exports (NODX) is expected to range between a 0.5 per cent drop and a 1.5 per cent rise this […]
Read More[SINGAPORE] Singapore banks’ loan growth will slow to 1.5 per cent in 2020, down from 3.1 per cent last year, given the stiff economic headwinds facing Singapore from the coronavirus (Covid-19) outbreak, Fitch Solutions Macro Research forecast in a report released on Friday. The likelihood of a more pronounced slowdown is likely to weigh on […]
Read MoreThe Restaurant Association of Singapore (RAS) has asked shopping mall landlords for a rental rebate to help the food and beverage industry survive the sharp drop in business since the coronavirus outbreak started late last month. It also conveyed its gratitude to Jewel Changi Airport, which has offered its tenants a 50 per cent rental […]
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