WEDNESDAY, MARCH 2, 1988
FORECAST THIS MR
SAID JACOBS
THAT GIVEN THE TIGHT CONCLUSIONS:
ΤΟ REMAIN UNEMPLOYMENT RATE WAS REDUCED RATE OF ECONOMIC
LIKELY
GROWTH;
HIM TO LED
MARKET LABOUR
LOW THIS
THE IN YEAR
FOLLOWING
1987 THE
AND THAT AS
THAT THE RATE OF INFLATION
TOTAL
A WAS FINAL THAN THE SUPPLY OF
ΤΟ HAVE
DESPITE
BE MET BY
EXPECTED TO AVERAGE ABOUT SEVEN PER CENT; DEMAND IN THE ECONOMY WAS LIKELY TO RISE FASTER WOULD DEMAND IN OUTPUT, SOME OF THIS ADDITIONAL IMPORTS.
GROWTH
"THUS, OUR IMPORTS ARE FORECAST TO GROW BY 9.5 OUR RETAINED IMPORTS BY SLIGHTLY OVER SEVEN PER CENT,
A
PER CENT, AND HE SAID.
DETERIORATION
SLIGHT FURTHER "THIS, COUPLED WITH TERMS OF TRADE, SHOULD RESULT IN AN INCREASED VISIBLE
THE ARGUMENTS GIVING FURTHER WEIGHT TO SOME OF
HE ADDED. REVALUATION OF OUR CURRENCY,
11
IN THE
TRADE DEFICIT,
AGAINST
ADVANCED I
MR JACOBB FORECAST THE GROWTH RATE OF THE GDP
IN MONEY TERMS
AT ABOUT 13 PER CENT IN 1988.
CAPITA GDP WOULD
THUS REACH ABOUT
"AT CURRENT PRICES, PER $72,000, EQUIVALENT TO US$9,200," HE SAID.
STRATEGY FOR PUBLIC FINANCES IS STABILITY
TODAY
THE
PRESENTING HIS BUDGET SPEECH IN THE LEGISLATIVE COUNCIL
STABILITY IN (WEDNESDAY), THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, SAID AIM OF THE STRATEGY FOR PUBLIC FINANCES WAS TO MAINTAIN PUBLIC EXPENDITURE GROWTH.
"THIS STRATEGY
DEVELOPMENT OF GOVERNMENT
ESSENTIAL IS
SERVICES
TO THE AND THE
ORDERLY AND EFFICIENT OF OUR TAX STABILITY
SYSTEM," HE SAID.
THROUGH "IT IS ONLY
PRUDENT AND CAREFUL
INVOLVES LOOKING AHEAD A NUMBER OF YEARS, THAT WE CAN ENSURE THAT
WHICH
MANAGEMENT,
GOVERNMENT'S FINANCES
"
AFFECTS OUR ECONOMY,
NOT DO HE SAID.
ADD
THE TO
VOLATILITY INNATE
THE
THAT
MR JACOBS SAID
FACTS OF OUR ECONOMIC EXPERIENCE CONSIDERABLE YEAR TO YEAR VARIATION AS IT WAS ON THE PERFORMANCE OF OUR ECONOMY.
CONTINUED UNCERTAINTY AND VOLATILITY
AND LIFE,
INEVITABLY, ALMOST
то BE WOULD IN REVENUE DEPENDENT
WE
/DESPITE THE