Private economists and analyst, in their latest survey, have revised their projections for Gross Domestic Product (GDP) growth of Singapore to 5.5 per cent during the financial year 2010. The outlook represents better prospectus of city-state's economy in the upcoming year hoping increase in the business activities in Dubai.

Economists, in their previous quarterly survey conducted by the Monetary Authority of Singapore (MAS), pegged Singapore's GDP to grow at 4.5 per cent in 2010. The survey assumes significance as it is based on the survey of a total of 24 economists and analysts who had considerable knowledge of Singapore economy.

MAS claimed that third quarter economic results remained healthy as compared to previous quarters due to increase in demand in the system. The central bank projections also claimed the Singapore economy to expand by 5.0 to 5.9 per cent next year following signs of economic recovery.

Economy for the third quarter expanded 0.6 per cent due to overall increase in business activities. Commenting on this rise in economy during Q3, the central bank said, "This was better than the median forecast of a 3.0 per cent contraction as reported in the September 2009 Survey."