SPEECH BY MR TEO CHEE HEAN, DEPUTY PRIME MINISTER DURING BUDGET DEBATE - UPDATE ON NATIONAL PRODUCTIVITY DRIVE ON 1 MARCH 2011 AT 3.40 PM
Mr. Speaker, Sir, 2010 was a good year for our economy. Gross Domestic Product (GDP) grew by an estimated 14.5%, a recovery from the 0.8% contraction in 2009. Riding on this rebound, labour productivity also rose by 10.7%, based on preliminary estimates.
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