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WEDNESDAY, MARCH 3, 1993
H
"BUT THE GOVERNMENT CANNOT ACHIEVE THIS ON ITS OWN, HE SAID.
THE GOVERNMENT HAS TO WORK TOGETHER IN PARTNERSHIP WITH OTHERS:
*
IN
PARTNERSHIP WITH THE LEGISLATIVE COUNCIL, WHICH MBANS, FOR EXAMPLE, FRANK AND EARLY CONSULTATIONS WITH MEMBERS ON BUDGET PRIORITIES,
*
*
IN PARTNERSHIP WITH THE BUSINESS COMMUNITY, TO MAINTAIN HONG KONG'S COMPETITIVENESS, AND TO MAXIMISE PRIVATE INVESTMENT IN OUR INFRASTRUCTURE, AND
IN PARTNERSHIP WITH THE COMMUNITY WE ALL SERVE, SO AS ΤΟ ENSURE THAT ITS NEEDS ARE MET AND ITS CRITICISMS HEEDED.
HK CONTINUES TO FLOURISH
HONG KONG HAS CONTINUED TO FLOURISH, DESPITE FOREBODINGS ABOUT HONG KONG'S ABILITY TO WEATHER NEW POLITICAL STORMS AND IN THE FACE OF RECESSIONARY CONDITIONS IN MANY OF ITS LEADING EXPORT MARKETS, THE FINANCIAL SECRETARY, THE HON HAMISH MACLEOD, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
"IN PRESENTING MY FIRST BUDGET LAST YEAR, I SAID THAT MY OVERRIDING DUTY AS FINANCIAL SECRETARY WAS TO SEE THAT HONG KONG'S RECORD OF ECONOMIC SUCCESS CONTINUED INTO THE FUTURE.
"FOR IT IS FROM THIS ECONOMIC SUCCESS THAT ALL ELSE FLOWS, MACLEOD SAID IN HIS BUDGET FOR 1993/94.
11 MR
"I
THINK WE CAN FAIRLY SAY THAT OVER THE LAST YEAR, HONG KONG HAS CONFOUNDED THE SCEPTICS YET AGAIN, HE SAID, NOTING THAT:
"I
IN
* GDP GREW 5% IN REAL TERMS, WELL UP FROM THE GROWTH RATE
PRECEDING YEARS. GDP PER HEAD INCREASED TO OVER U.S.$16,000.
TOTAL EXPORTS GREW 19%.
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IN EFFECT HONG KONG HAS FULL EMPLOYMENT. THE UNEMPLOYMENT RATE HAS REMAINED AMONG THE LOWEST IN THE WORLD.
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INFLATION FELL BACK, ALTHOUGH NOT NEARLY ENOUGH FOR COMFORT.
"IT IS A MARK OF OUR SUCCESS THAT NOWADAYS WE CAN COMPARE OURSELVES WITH THE MAJOR ECONOMIES OF THE WORLD, AND INCREASINGLY THE COMPARISONS IN MANY RESPECTS COME OUT IN OUR FAVOUR.
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