Singapore revises growth

Tue, 16 Nov 1999, 00:00 WIB | Source: AFP

SINGAPORE (AFP): The Singapore government has revised upwards
the 1999 growth forecast for the island state's economy, causing
the stock market to jump more than two percent on Monday.

Trade and Industry Minister George Yeo was quoted saying by
local television and newspaper reports that the economy was
expected to expand 4.5 to 5.0 percent this year from just 0.3
percent in 1998.

He said the upward revision to the lower end of the government
forecast of 4.0 percent was in line with strong expansion in the
third quarter.

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