Singapore’s economy may cross the 15 percent growth mark this year, surpassing the earlier forecast of 13 to 15 percent made by the government.
According to 20 economists and analysts polled by the Monetary Authority of Singapore (MAS), the local economy is likely to expand between 14.9 percent and 15.9 percent in 2010.
The median forecast of 14.9 percent growth, which was announced in the latest survey of professional forecasters, is a major leap from the previous forecast of 9 percent growth contained in the June survey.
If the new forecast is achieved, Singapore will record the highest-ever annual growth rate.