Chinanews.com, August 11, Singapore’s Lianhe Zaobao reported that Singapore’s Minister of Trade and Industry Chen Zhensheng said on the 11th that the new crown epidemic has severely hit the economy and Singapore can no longer return to the state before the epidemic, so now it is necessary to build a new economy. Create more job opportunities for the people.

  Chen Zhensheng pointed out that Singapore’s economic performance in the second quarter of 2020 was the worst in history. The economy shrank by 13.2% in the second quarter. The situation was worse than the first quarter, and it was also the largest single-quarter decline in history. This year's economic outlook means that the growth of the past two or three years will be offset.

  The Ministry of Trade and Industry announced the second quarter Singapore economic survey report earlier on the 11th. Chen Zhensheng and Minister of Manpower Yang Liming subsequently held a press conference online.

  Due to the deterioration of the global and local economic conditions in Singapore due to the new crown epidemic, the Ministry of Trade and Industry has narrowed its annual economic forecast downward, from a 4% to 7% contraction originally predicted to a contraction of 5% to 7%.

  Chen Zhensheng said: “I know that some people still hope that the economy will recover quickly and return to the familiar normal state in the past, but the sad truth is that we can no longer go back to the world before the epidemic. It might be so smooth."

  Although the prospects are uncertain, the Singapore government will adhere to three principles when opening a new path, namely, restarting the economy safely and sustainably, helping companies and employees adapt to the new normal, and establishing a good macroeconomic environment in the process of supporting companies .