Macao's GDP grows at 10%
(Xinhua)
Updated: 2006-10-26 14:15
Macao's gross domestic product (GDP) growth rate is expected to stand around
10 percent this year, local media reported Thursday.
The Macao Post
Daily quoted Tam Pak Yuen, Secretary for Economy and Finance, as saying that he
is "fully confident" that local economic growth will reach the 10-percent target
which was set at the start of the year.
The gross receipts generated by
the pillar gaming industry so far this year were "quite good," the policy
official told the newspaper.
The gaming receipts reached a record 13.54
billion patacas (1.69 billion U.S. dollars) in the third quarter.
Tam
also predicted that the gaming receipts will accomplish a year-on-year rise of
14 to 15 percent this year, according to the newspaper.
Macao, with a
population of 503,000, saw a per capita GDP of 24, 274 U.S. dollars last
year. (For more biz stories, please visit Industry Updates)
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