SINGAPORE – The impact of the coronavirus outbreak on Singapore’s economy has already exceeded that of the severe acute respiratory syndrome (Sars) back in 2003, Prime Minister Lee Hsien Loong said on Friday (Feb 14), adding that a recession could be a possibility.
The impact, particularly over the next few quarters, will be significant as the country battles a “very intense outbreak”, said PM Lee during a visit to Changi Airport Terminal 3.
“It’s already much more than Sars, and the economies of the region are much more interlinked together. China, particularly, is a much bigger factor in the region,” he said.
“I can’t say whether we will have a recession or not. It’s possible, but definitely our economy will take a hit.”
Singapore was first hit by Sars in March 2003. It took five months, until July that year, for the disease to be eradicated here.
“That was, I think, very fast. I expect it not to be so fast this time,” PM Lee said.
Singapore is working to contain the…