Singapore virus response, Cambodia on the ropes

The emphasis of Singapore’s budget on Tuesday is likely to be on trying to minimise the hit to incomes and ensuring that otherwise healthy companies can make it through the crisis. Meanwhile, we have slashed our GDP growth forecast for Cambodia for  this year. We think the coronavirus crisis and the EU’s decision to scrap tariff-free access for around US$1.1bn worth of goods it imports from Cambodia will cause growth to slow to just 3%, down from 7% last year.