Singapore is facing its most severe recession ever, due to the shock to supply and demand caused by the Covid-19 pandemic, said Ravi Menon, managing director of the Monetary Authority of Singapore. The country's gross domestic product for this year is forecast to contract between 7% and 4%, Mr. Menon said in a transcript of a podcast with Tim Adams, president and chief executive officer of Institute of International Finance, on May 28.
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