Singaporeans have to prepare for different post-COVID future

He made the remarks during a national broadcast on Sunday evening, saying COVID-19, not only a public health issue but also a serious economic, social and political problem, would take at least a year, probably longer, before vaccines become widely available, reports Xinhua news agency.

Lee said Singaporeans must all adjust the way they live, work and play, so that they could reduce the spread of the virus, and keep themselves safe. He also warned that the next few years would be a disruptive and difficult time for all of them.

He said companies, big and small, would be hit hard, some industries would be permanently changed, and many would have to reinvent themselves to survive.

Workers will also feel the pain, as retrenchments and unemployment will go up, some jobs will disappear and not come back.

The Prime Minister said the global economy had "virtually ground to a halt" because of COVID-19, and Singapore had taken a severe hit too with its GDP likely to shrink between 4 and 7 per cent in 2020, the city-state's worst contraction ever. (IANS)

Also Watch: Evening Bulletin | 8th June, 2020