The city-state has been hit hard by COVID-19 with the country under a lockdown for most of the second quarter to curb the spread of the virus.
"The forecast for 2020 essentially means the growth generated over the past two to three years will be negated," said Chan, adding that the data was the economy's worst quarterly performance on record. The slump marked the second consecutive quarter of GDP contraction for the global finance hub - having declined 0.3% year-on-year in the first quarter and 3.1% quarter-on-quarter - meeting the definition for a technical recession.
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