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Singapore's economy grows 17.9 pct in H1

08-09-2010 08:37 BJT

SINGAPORE, Aug. 8 (Xinhua) -- Singapore Prime Minister Lee Hsien Loong said on Sunday that the country's economy grew 17.9 percent in the first six months of this year, and the government is forecasting full-year growth of between 13 percent to 15 percent.

Delivering the National Day Message, Lee said that the exceptional performance in the first 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 Aug. 9.

Editor:Xiong Qu |Source: Xinhua

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