Risk of recession mentioned by PM Lee because of COVID-19

"I can’t say whether we will have a recession or not. It’s possible, but definitely our economy will take a hit," This was what PM Lee told reporters on Friday (Feb 14) during a visit to Changi Airport Terminal 3. The impact, particularly in the next few quarters, will be significant as the country battles a "very intense outbreak", he said. "It’s already much more than Sars, and the economies of the region are much more interlinked together. China, particularly, is a much bigger factor in the region," he added. Source: Coronavirus: Impact on economy already exceeds Sars, recession possible

Retail industry and Tourism industry hit REALLY HARD!

The tourism industry is among the hardest hit sectors. Already, the government is bracing itself for tourist arrivals to drop by between 25 and 30 per cent this year. (stated in post above) MBS is the best example to see the...