S'pore economy grows 7.5pc in 2007

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SINGAPORE, Jan 1 (AFP): Singapore's economy grew 7.5 per cent in 2007, marking the fourth straight year of strong growth, Prime Minister Lee Hsien Loong said yesterday in his New Year message.
But Lee, forecasting slower growth in 2008, said economic expansion in Southeast Asia's most advanced economy has brought "problems of success" including a shortage of prime office space.
The figure for 2007 economic expansion was at the lower end of the government's upgraded full-year growth target of 7.5-8.0 per cent, and was below the 7.9 per cent recorded for 2006.
"Singapore has enjoyed another year of robust expansion, although the fourth quarter saw slower growth. The economy grew by 7.5 per cent for the year," Lee said.