Singapore on high
By Alex Kennedy |
July 15, 2010, Thursday
|
Print Edition
Print Edition
SINGAPORE expects its economy to soar 15 percent this year after a record expansion in the second quarter that suggests Asia's recovery from the global recession remains on track.
Gross domestic product for April through June grew 19.3 percent from a year earlier when the economy was shrinking because of the global recession, the Trade and Industry Ministry said yesterday. The growth was the fastest since the government began releasing quarterly GDP figures in 1975.
The ministry raised its forecast for the city-state's economic growth this year to a range of 13 percent to 15 percent from the previous forecast of 7 percent to 9 percent.
Gross domestic product for April through June grew 19.3 percent from a year earlier when the economy was shrinking because of the global recession, the Trade and Industry Ministry said yesterday. The growth was the fastest since the government began releasing quarterly GDP figures in 1975.
The ministry raised its forecast for the city-state's economic growth this year to a range of 13 percent to 15 percent from the previous forecast of 7 percent to 9 percent.
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