Singapore PM Says Recession Possible Due to Coronavirus Outbreak

Singapore PM Says Recession Possible Due to Coronavirus Outbreak
Singapore's Prime Minister Lee Hsien Loong arrives to attend a plenary session at a regional summit in Bangkok, Thailand on Nov. 2, 2019. Athit Perawongmetha/Reuters
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SINGAPORE—Singapore’s economy could enter recession due to the blow from the coronavirus outbreak, its prime minister said on Feb. 14, adding that the city-state was bracing for a “significant” hit in the coming quarters.

“The impact will be significant at least in the next couple of quarters. It is a very intense outbreak,” Lee Hsien Loong said in a video interview posted on his Facebook page.