Singapore’s partial lockdown seen costing economy S$20 billion

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Singapore’s partial lockdown seen costing economy S$20 billion
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That equates to about 2% of Singapore's gross domestic product. YahooFinance

-- Singapore’s partial lockdown to contain the spread of the coronavirus could cost the economy about S$20 billion in lost output, according to Maybank Kim Eng Research Pte.

Singapore has banned social gatherings and shut workplaces, except for essential services and key economic sectors, as part of “circuit-breaker” measures to contain virus infections. The restrictions took effect this week and will last through May 4. Singapore’s government is forecasting a contraction in the economy of 1%-4% and has committed fiscal support of almost S$60 billion, or 12% of gross domestic product, to help cushion the blow for businesses and households.

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