The government has come out with a bullish but broad forecast for economic growth next year of between 4.5 per cent and 6.5 per cent and strengthened its projection of this year's expansion in gross domestic product to 5 per cent.
'This year we have done well. Next year we will do better,' said Ho Meng Kit, deputy secretary for industry and planning.
The revised GDP forecast for this year is at the upper end of the trade ministry's earlier 4 per cent to 5 per cent projected range.
It follows robust 6.7 per cent growth in the third quarter, the same recovery rate as the previous three months.
While yesterday's figures were in line with analysts' expectations, GK Goh Securities economist Song Seng Wun said: 'There are little pockets of clouds over the horizon that could destabilise growth.' The government itself acknowledged that external risks had ebbed but had not dissipated altogether.
It pointed to continuing fears over a possible hard landing for the United States stock market and the fresh risk posed by the recent 'excessive' strength of the yen.
