Singapore could enter technical recession, trade ministry official says

Singapore could enter a technical recession, marked by two quarters of contraction, but the economy may not necessarily suffer a full-blown recession, Beh Swan Gin, Permanent Secretary at the Trade Ministry, said on Thursday after the release of GDP data.

Edward Robinson, Deputy Managing Director at the Monetary Authority of Singapore, said current policy settings remained appropriate.

The MAS eased policy at reviews in January and April.