2Q20 GDP

A joint study by MTI and MOF shows that Singapore’s budgets this year, have prevented real GDP from losing about 5.5% in 2020.

Singapore is facing its worst recession on record, and mature workers need to upskill to remain relevant to the agile workforce

Singapore cannot afford to wait out for the coronavirus to abate, as the permanent changes is brings will hinder it from reverting to a pre-Covid-19 economy, Minister for Trade and Industry (MTI) Chan Chun Sing said on August 11.

Singapore’s Ministry of Trade and Industry (MTI) has revised it’s growth forecast for the year to -7% and -5%, from its previous -7% and -4% range.

DBS analysts expect a bottoming out to the STI to have occurred in 2Q2020 ended June

"Singapore has a more sophisticated electorate, that isn’t afraid to send a signal to the PAP about its displeasure over the government’s performance even when economic worries weigh heavily on their mind,” says market watcher Leonard Lim.

“We believe the contraction in GDP will trough in 2Q20, given the ‘circuit breaker’ and ‘phase one’ restrictions in this period,” explains UOB economist Barnabas Gan