Singapore’s economy grew by 3.7 per cent in 2013 (year-on-year), within the official Ministry of Trade and Industry (MTI) forecast of 3.5-4.0 per cent.
In his 2014 New Year Message, Prime Minister Lee Hsien Loong said the economy had performed better than expected.
MTI’s official forecast for economic growth in 2014 is 2.0-4.0 per cent.
Israel’s economy grew by 3.3 per cent in 2013 (year-on-year), the lowest annual growth rate in a decade, according to the Central Bureau of Statistics.
At least 25 per cent of that growth was a result of gas exports from the Tamar field.
Despite the less than bullish news, Israel’s growth was one of the highest in the OECD, which had overall average growth of just 1.2%, nearly a third of Israel’s numbers.