Singapore cuts 2020 GDP forecast for third time on virus outbreak

CORONAVIRUS | Singapore downgraded its 2020 gross domestic product forecast for the third time as the Covid19 pandemic batters the bellwether economy, the trade ministry said on Tuesday.

The city-state lowered its GDP forecast range to a contraction of 7.0 percent to 4.0 percent from the prior range of a decline of 1.0 percent to 4.0 percent.