48.
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"At the present time, the precise cost, timing and mode of financing of these projects are uncertain. In the circumstances, I have made no allowance for any such payments in my Medium Range Forecast," he said.
Mr Tsang said the economic growth he was forecasting for the period up to March 2000, and the corresponding growth in the Government expenditure, will enable Hong Kong to go on enjoying the fruits of its success.
"These increases in our real expenditure and the benefits that they bring, can and will be funded from the Government's share of the wealth that our successful economy will generate," he added.
He emphasised that the MRF was a forecast only.
"It has been prepared to reassure ourselves that the proposals which I have put forward today are affordable both in the context of the next financial year and over the medium tern).
"It does not impose any commitment on the future Special Administrative Region Government." he said.
End
East Asia to provide dynamism for economy
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East Asia will provide the fresh dynamism for Hong Kong's economy, the Financial Secretary, Mr Donald Tsang, said.
If our recent past, economically, has been impressive, the future "promises to be spectacular". Mr Tsang said.
The economic growth rate for the region over the past five years had been twice as high as the OECD average. Mr Tsang said.
East Asian growth rates are set to out-perform the rest of the world well into the next century.
Mr Tsang added: "Even by the year 2000 in East Asia, average GDP per head is expected to reach US$5,200, compared with only US$2.500 in 1990."
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