Economists have raised their 2007 growth forecasts for Singapore to 8.0 percent from 7.5 percent previously, results from the city-state's central bank poll showed on Friday.
The revised forecast is at the top end of the Singapore government's upgraded growth targets of 7.5-8.0 percent for the year and follows faster expansion of 8.9 percent in the September quarter from 8.7 percent in the previous quarter. Economists have, however, downgraded next year's growth to 6.3 percent from 6.5 percent in the last poll carried out in September.
The government, which is projecting 2008 growth at 4.5-6.5 percent in 2008, has cautioned that the trade-led economy may be affected by high energy costs and the fallout from the US sub-prime mortgage sector.
Singapore's economy, valued at S$210 billion in 2006, is highly dependent on external trade, which means the city-state is vulnerable to any slip-ups in the world's major markets.
The central bank's December poll involved 18 economists. - AFP/ir
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