Macau’s economy expected to grow less than 8% in 2005

23 November 2005

Macau, 23 Nov – Macau’s gross domestic product will show a growth rate of less than 8% in 2005 after strong growth of 28% in 2004, Macau’s Secretary of State for Finance and the economy said Tuesday.

In a speech to Macau’s Legislative Assembly propose the 2006 budget, Francis Tam added that the Macau economy will likely maintain growth rates of between 7% and 9% in the 2006-2008 period.

In 2004 Macau’s GDP surged 28% after having increased by 14.2% the previous year.

During the Legislative Assembly session, its members unanimously approved the 2006 budget which forecasts revenues of 2.5 billion euros and investment of 600 million euros. (macauhub)