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VIRUS OUTBREAK

Covid-19 impact pushes Singapore's 2020 GDP forecast into negative turf

Forecast of -4 to -1% contraction sign of further economic pain to come for other Asian economies, says one analyst

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Singapore's services sector shrank due to a sharp decline in tourist arrivals and a fall in domestic consumption.

Singapore

SINGAPORE's official growth forecast has hit negative territory for the first time in nearly a decade. This comes as the Republic braces itself for what is likely the worst economic contraction since independence.

The Ministry of Trade and Industry (MTI) on Thursday...