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It's not 'so slow'. It is popular mainly because it is easy to learn and scale up. It is readable and easily understandable thereby better maintainability. It is powerfull and loc is lesser. Lots of support available for usage in different domains. It is open source yet administered well. The speed of execution is marginally less than certain other languages but Python can be speeded up to almost the speed of 'C' by using certain techniques if necessary.
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