Singapore’s Ministry of Trade and Industry (MTI) upped its forecast for the country’s economy with a growth of 13 to 15 per cent in Financial Year (FY) 2010, exceeding an earlier growth forecast of 7 to 9 per cent.

The revision of higher forecast figures are the results of strong economic performance in the first quarter of FY2010 coupled with better-than-anticipated economic growth in the second quarter.