Singapore remains on track to achieve 1.5 percent to 2.5 percent growth this year, Prime Minister Lee Hsien Loong said Wednesday.
The city-state economy is doing well amidst an unsettled world, Lee said in his National Day Message. Europe and the U.S. face serious economic problems.
Although Asia is doing better than other regions, China and India are slowing down and tensions are simmering in the South China Sea, Lee said.
Lee said the economy expanded 1.7 percent in the first half of 2012. The Monetary Authority of Singapore forecast 1 percent to 3 percent growth this year.
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