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Singapore’s economy entered a recession and its growth has shrunk 41.2% compared to the previous quarter. It’s Singapore’s worst recession ever. In comparison to last year, GDP has decreased by 12.6%. These figures indicate that the pandemic may have impacted Singapore’s economy harder than many of its Asian counterparts. Since June 1, Singapore has started to take reopening measures by allowing most shops and restaurants to resume business.
Source: BBC.
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157600cookie-checkSingapore: Easing Lockdown Measures