Singapore Forecasts Record Expansion in 2010; Currency Climbs
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Singapore said its economy will expand a record 15 percent this year, the fastest pace in Asia, even as slowing global growth threatens to damp export demand. The island’s currency rose.
Gross domestic product will grow 4 percent to 6 percent in 2011, the trade ministry said in a statement. The economy, vulnerable to swings in demand for its drugs and electronics, shrank less than previously estimated in the third quarter. The nation, which has had three recessions in the past decade, won’t experience one this year, the government said today.