Lee Ju Ye

Singapore's GDP remains in the red with 7% slump in 3Q2020: MTI - THE EDGE SINGAPORE

Singapore economy

Singapore's GDP remains in the red with 7% slump in 3Q2020: MTI

Singapore’s Gross Domestic Product (GDP) slumped 7% year-on-year in 3Q2020 ended September, according to advance estimates penciled by the Ministry of Trade and Industry (MTI) on Oct 14.

Government measures to prevent economy from contracting by 5.6%, but Singapore still expected to face a full year recession - THE EDGE SINGAPORE

Singapore economy

Government measures to prevent economy from contracting by 5.6%, but Singapore still expected to face a full year recession

The close to $100 billion in relief measures disbursed has prevented Singapore’s economy from a further 5.6% in 2020 and 4.8% in 2021, says the Monetary Authority of Singapore (MAS).

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