The Economist Intelligence Unit in its “Quality-Of-Life Index” ranks Singapore as having the best quality of life in Asia and eleventh overall in the world. Singapore possesses the world’s ninth largest foreign reserves. The country also maintains armed forces that are technologically advanced and well-equipped.
After a contraction of -6.8% in the 4th quarter of 2009, Singapore claimed the title of fastest-growing economy in the world, with GDP growth of 17.9% in the first half of 2010.