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A recession in Singapore’s trade-reliant economy could be deeper than forecast as the protracted nature of the Covid-19 pandemic is likely to hamper a decisive rebound in global activity, the city-state’s central bank said on Tuesday.
“There remains significant uncertainty over the severity of the downturn, as well as the eventual recovery,” the Monetary Authority of Singapore (MAS) said in its semi-annual macroeconomic review.
“The materialisation of downside risks … could tip the growth outcome in Singapore below the forecast range.”
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