Singapore Prime Minister Lee Hsien Loong yesterday confessed to the state media that he has no idea how to improve the economy:
“The possibility of a recession looms over Singapore. The coronavirus outbreak has already hit the economy more severely than the severe acute respiratory syndrome (Sars) epidemic did in 2003. I can’t say whether we will have a recession or not. It is possible, but definitely our economy will take a hit.”
The world’s highest paid politician Singapore dictator admitted that the economy is going to get worse this year as the virus has gone out of control in Singapore:
“The impact, particularly in the next few quarters, will be significant as the country battles a very intense outbreak. It is 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. Singapore was hit by Sars in March 2003. It took five months, until July, to eradicate the disease here. That was, I think, very fast. I expect it not to be so fast this time.”
PM Lee Hsien Loong said he is receiving feedback that the economy is very bad at the moment and promised the government unions will “help”:
“One taxi driver told me that his income was down by 30 per cent. While flights are down by a third, and businesses hit hard, staff and crew have to stay at their posts and keep Singapore open for business. We have to get through this, and I think, with the unions’ help, we will. Shutting down the country is not an option.”