The announcement of Singapore’s full-year economic contraction of 5.4% in 2020 has been well received by economists. 

The full-year contraction – which is an improvement from the 5.8% plunge predicted in advance estimates -  follows a milder dip of 2.4% y-o-y in 4Q2020. 

See: Singapore's economy contracts by 5.4% in 2020; expected to grow by 4% to 6% in 2021

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