It noted that the Ministry of Trade and Industry (MTI) has downgraded Singapore’s GDP growth forecast for 2020 to “-0.5 to 1.5%”, with growth expected to come in at around 0.5%, the mid-point of the forecast range.
SINGAPORE (Mar 12): Singapore’s Ministry of Manpower (MOM) warned Thursday that the labour market outlook for 2020 is “uncertain” amid the evolving novel coronavirus (Covid-19) outbreak and other global economic uncertainties.
“As the overall economic growth is projected to moderate, the outlook for the labour market is expected to be subdued,” MOM said in a statement.
