SINGAPORE - The impact of the coronavirus outbreak on Singapore's economy has already exceeded that of the severe acute respiratory syndrome back in 2003, Prime Minister Lee Hsien Loong said on Friday , adding that a recession could be a possibility.
"I can't say whether we will have a recession or not. It's possible, but definitely our economy will take a hit." The tourism industry has been one of the hardest hit sectors. Already, the government is bracing itself for tourist arrivals to drop by between 25 and 30 per cent this year. PM Lee being briefed on the thermal scanners PM Lee added that he was glad the workers he met were in good spirits.
"But it's an evolving situation. Every day brings new developments and we cannot be sure which way it will go. So we have to watch and we have to respond quickly but you have to go, you have to make a judgment at each point, what is the right thing to do now," he said.
PropertyPagesSG Too slow to learnt on SARs. Travel ban was far too late.
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