Singapore Prime Minister Lee Hsien Loong has said that a recession "is possible" due to the outbreak of the novel coronavirus.
Speaking during a visit to the Changi Airport, Prime Minister Lee described the novel coronavirus "as a very intense outbreak" adding that the economic impact " is already much more than SARS (severe acute respiratory disease)."
Lee added that the "travel industry has been substantially impacted, flights are down by a third and shops here are hard hit."
"I can't say whether we will have a recession or not," he said. "It's possible, but definitely our economy will take a hit."
As of February 13, Singapore has confirmed 58 cases of the novel coronavirus in the city.