MAS's Keat on the 2004/2005 Annual Report

In a speech given on 22 July Heng Swee Keat of the Monetary Authority of Singapore said the Singapore economy grew by a robust 8.4 percent in 2004 supported by buoyant global economic conditions, with broad-based growth across all major sectors.

"The global economy is expected to grow at a more moderate pace this year, but it will remain supportive for the Singapore economy. Although our GDP growth slowed in the first quarter of 2005, this largely reflected fluctuations in the biomedical sector.

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