Ministry of Trade and Ministry (MTI)

“There continues to be a significant degree of uncertainty over the length and severity of the Covid-19 outbreak, as well as the trajectory of the economic recovery in both the global and Singapore economies,” MTI cautioned.

“Safe-distancing measures and weaker labour market will dampen consumer demand, thereby capping prices increases for discretionary goods and services,” note MAS and MTI.

From Singapore's $48 billion Resilience Budget to a potential monetary easing, here are a few key economic events that took place this week.

SINGAPORE (Jan 2): Analysts expect a “tepid recovery” for the Singapore economy in 2020, after advance GDP estimates released Thursday pointed to the worst growth performance for the city state since the global financial crisis in 2009.