Singapore Prime Minister Lee Hsien Loong said Sunday that the country’s economy grew 17.9% in the 1st 6 months of this year, and the government is forecasting full-year growth of between 13 to 15%.

Delivering the National Day Message, Lee said that the exceptional performance in the 1-Half of this year is the fruit of Singaporeans’ united response during the crisis, which enabled Singapore to take full advantage of improved global conditions.
But he also cautioned that risks remain in the world economy, especially in Europe and the United States.

“The global financial system is not fully mended. Singapore is small and open. If the world economy turns bad, we will be buffeted. We need to stay vigilant and watch the developments worldwide.” Lee said.

He added that Singaporeans cannot expect to repeat this year’s sterling performance year after year, but the country can continue to grow its economy with sustained effort.

Singapore will celebrate its 45th National Day on August 9.—Paul A. Ebeling, Jnr. www.livetradingnews.com

Posted by Shayne Heffernan on Aug 8th, 2010and filed underAsia, Equities, Latest News, Markets, News & Events.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site