IMF lifts Singapore GDP forecasts for 2009, 2010
Published: 28 Oct 2009 21:34:44 PSTSEOUL, Oct 29 - The International Monetary Fund on Thursday upgraded its economic growth forecasts for Singapore for this year and 2010 from previous projections announced at the start of this month.
The IMF forecast in its regional economic outlook report, released in Seoul, that Singapore's gross domestic product would expand by 4.3 percent in 2010 after contracting by 1.7 percent this year.
It had predicted in its world economic outlook report, released on Oct. 1, that the island state's economy would grow 4.1 percent in 2010 after shrinking by 3.3 percent this year.
The Singaporean government has forecast the economy would contract by between 2 percent and 2.5 percent this year.
The IMF neither changed forecasts for other economies in the region from those announced previously nor elaborated on the upgraded forecasts for Singapore.
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