Return to May's restrictions a setback to Singapore's recovery: economists

Q3 growth and business confidence could take a hit; earlier curbs saw Republic's economy shrink by 2% in Q2

Sharon See

Published Wed, Jul 21, 2021 · 05:50 AM

Singapore economy

Singapore

SINGAPORE'S return to Phase 2 (Heightened Alert) has thrown a spanner in the works on the short-term outlook of its economy, with watchers concerned that third-quarter growth and business confidence could be dented by the extended restrictions.

On Tuesday, Singapore's Covid-19 taskforce announced a ban on dine-ins again for four weeks from July 22, while social gatherings will be limited to not more than two - a throwback to May's Phase 2 (Heightened Alert).