Home News Singapore economy

Market watchers roll back 2020 GDP forecasts as virus spread intensifies

Uma Devi
Uma Devi2/6/2020 03:50 PM GMT+08  • 4 min read
Market watchers roll back 2020 GDP forecasts as virus spread intensifies
As a result of the virus, Maybank Kim Eng has revised its 2020 GDP growth forecast to 1.1% from the previous 1.8% , while OCBC has widened its 1-2% GDP growth forecast to 0-2%.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Feb 6): Although the easing of US-China trade tensions was a signal of “green shoots” in a troubled global economy, the novel coronavirus (2019-nCOV) is now the latest threat to an economic recovery.

As at Feb 6, the total number of confirmed virus cases in Singapore stands at 28. Seven of these cases involved local transmissions, with the infected patients claiming they hadnot travelled to China recently. However, the Ministry of Health has maintained that there is no evidence of widespread community transmission in Singapore just yet.

With the Budget slated to be announced on Feb 18, the Ministry of Trade and Industry (MTI) has noted that the Wuhan virus outbreak is expected to affect Singapore's economy this year, and the government will implement measures to support businesses.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now