The Secretary for Economy and finance, Francis Tam today forecasted a two-digit growth in the economy as recent statistics revealed growth in many sectors besides rapid growth in gaming sector. The statistics and census department recently announced a 47.5% GDP growth in the second season of 2004, and a 36% growth in the first six months. Mr. Tam said that the 47.5% growth was due to a low record in last summer, when SARS hits the neighbouring regions and thus hindered the Economy of Macao. He disagreed with the opinion that the gaming was the only industry that enjoy significant growth in Macao, saying that statistics had shown that many sectors, including merchandise exports, public investment in large-scale construction project and tourist spending had also contributed in the growth. He predicted a two-digit GDP growth for the year-round performance but expressed reservation about the prediction that the growth would exceed 30%. He also said that the government was monitoring Macao’s rapid economic development to avoid “risk situations or abnormal situations “ that would affect the livelihood of the population or the objective of sustainable development; however, the Government would always act in line with free-market principles.
