Coronavirus: Impact on economy already exceeds Sars, recession possible, says PM Lee

Posted by Team Finaxar on Feb 14, 2020 8:20:05 PM

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The possibility of a recession looms over Singapore, said Prime Minister Lee Hsien Loong, noting that the impact of the coronavirus outbreak on the economy has exceeded that of Sars, or severe acute respiratory syndrome, in 2003.

The tourism industry is among the hardest hit sectors. Already, the government is bracing itself for tourist arrivals to drop by between 25 and 30 per cent this year.

As published on: The Straits Times

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