Singapore Says Economy Will Grow 3% to 5% in 2010

Singapore says its economy will grow 3% to 5% in 2010 after shrinking as much as 2.5% this year, reports Bloomberg, citing figures from a statement issued by the trade ministry.

 

Further quoting the trade ministry, Bloomberg says that the country's gross domestic product climbed a revised annualized 14.2% last quarter from the previous three months, the second consecutive expansion.

 

“Singapore’s recovery, like many other Asian economies, will be patchy,” Vishnu Varathan, an economist at Forecast Singapore Pte., told Bloomberg. “The policies in place and the actions taken will determine the amount of turbulence we see next year.”

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