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Macao's economy is expected to grow 0.5 to 1 percent this year, Chief Executive Edmund Ho Hau Wah told the press Tuesday.
In 2002, Macao's economic growth rate, however, will be probably lower than that of this year, he said, blaming it for the world's economic slowdown.
Macao's economy grew 4.6 percent in the year 2000 following continuous negative increases in the previous four years.
Ho said that the special administrative region (SAR) will have a surplus of 400 million to 500 million patacas (50 million to 62.5 million U.S. dollars) in fiscal budget for 2001, but the deficitfrom the 2002 budget will reach 700 million to 800 million patacas (87.5 million to 100 million U.S. dollars).
According to the chief executive, the SAR's economy will benefit greatly from more investment in the manufacturing sector and construction of a number of key public facilities next year.
Ho met with reporters after he delivered the 2002 policy address Tuesday afternoon.
(Xinhua News Agency November 20, 2001)
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