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PM Lee: Singapore GDP grows 14.7 percent in 2010

PM Lee: Singapore GDP grows 14.7 percent in 2010

Prime Minister Lee Hsien Loong says Singapore's economy grew a record 14.7 percent this year, rebounding strongly from last year's recession.
Lee said in a statement Friday that gross domestic product expanded 12.5 percent in the fourth quarter. Lee reiterated the government's GDP growth forecast for next year of between 4 percent and 6 percent.
Lee warned the U.S. economy remains weak and Europe faces a debt crisis in several countries while growth momentum in Asia is strong.