In the government’s latest estimate, Macao’s gross domestic product (GDP) is expected to fall around 56% this year, adding that while the estimate “will be constantly adjusted” the government predicted this year’s economy would contract over 50%.
Business
Secretary for Economy and Finance Lei Wai Nong said during his introductory speech about his portfolio’s policy guidelines for next year on Friday that he expected the government’s Covid-19 prevention and control measures to be “normalised” next year, adding that protecting residents’ lives and health would remain the government’s top priority.
Secretary for Economy and Finance Lei Wai Nong said that the local government has not yet carried out an in-depth study on the possibility of setting up a Macao securities exchange in Hengqin, but it would keep an open mind on the possibility.
Macao’s annual wealth-sharing handout next year will once again be paid out in cash, Secretary for Economy and Finance Lei Wai Nong has told lawmakers.
Macao’s general unemployment rate and local residents’ jobless rate of local residents for August-October remained unchanged at 2.9% and 4.1%.
Macao’s exports and imports in the first 10 months of the year fell by 18.1% and 7.1% to MOP 8.6 billion (US$1.08 billion) and MOP 67.4 billion respectively.
The number of meeting, incentive, conference and exhibition (MICE) events held in Macao in the third quarter and the total number of participants both increased quarter-to-quarter, the Statistics and Census Bureau (DSEC) announced on Thursday.
Grand Lisboa’s occupancy rate could reach about 50 per cent next month, its manager, Henry Kong Fuk Leung, said on Thursday.
Until Tuesday, the second phase of the government’s consumption subsidy smartcard scheme had injected around MOP 2.9 billion to into the local market, an Economic Affairs Bureau (DSE) statement noted on Thursday.