Singapore is bracing for “greater impact” on certain segments of its economy with the latest round of tightened Covid-19 measures, but still expects positive GDP growth this year.
Responding to queries at the multi-ministry taskforce press conference, newly-appointed Finance Minister Lawrence Wong said when the Ministry of Trade and Industry in April projected GDP to grow at the higher end of the 4-6% range, that was a time where “we could see there was a certain momentum to economic activities recovering. It's very hard to say how things will pan out going forward.”
He said the Ministry of Finance and MTI will monitor the economic situation very closely, and will see whether or not there is a need for additional help, for affected businesses as well as workers.
