Singapore Economy Records
Growth
Singapore’s
economy has recorded 27 percent expansion between
June and April this year, an indication it is
emerging from its worst economy recession.
The Ministry of Trade and Industry said the rapid
expansion compares with the record contraction of
nineteen point seven percent seen between January
and March.
Increased drug sales and construction activity were
said to be responsible for the positive development.
The government however, still expects the economy to
contract for the year.
It now predicts the economy will decline between
four percent and six percent for 2009, less than its
earlier estimate of a contraction of between six
percent and nine percent.
BBC/Qasim/Yinka