Outlook much healthier for next year, with growth forecast to top 37 per cent; foreign exchange reserves steady at MOP 212 billion.
AMCM
Proposals include MOP 10,000 cash handout for certain tax payers, interest-free loans of up to MOP 600,000 and three-month rent exemption on government real estate.
The food and beverage industry is the chief beneficiary as residents shell out MOP 473 million via the e-consumption benefits plan.
Residents are being advised to carefully read the small print to ensure they get the benefits that suit them best.
Both commercial and residential sales rise as banks hand out loans and government backs first-time buyers.
The outlook is positive, despite last year’s rocky economic performance, thanks to prudent fiscal measures taken by the government, says Fitch.
Rates for both the pataca and the Hong Kong dollar fell in 2020, mirroring an overall drop in the funding costs of local banking.
Interest of MOP 31 billion is offset by MOP 46 billion outlay to balance the budget shortfall caused by the ravages of Covid-19.
2.7 per cent fall means reserves are now 11 times the local currency in circulation.