Macau, China, 15 Aug – Macau Chief Executive
Edmund Ho called Thursday for local companies to refrain from firing staff and
hiking prices, despite rising inflation and the fragile international business
Speaking in the annual questions and answers session in Macau’s
Legislative Assembly, Ho said inflation would persist for some time, announcing
the government will introduce practical measures to support the less advantaged.
“Macau’s economy is all imported and therefore we are limited over
adopting measures to combat global inflation,” said Ho, pledging his
administration will maintain its public investments program.
lawmakers expressed concern at the evolution of Macau’s gaming industry – the
economic foundation of the Chinese enclave city. Ho said the sector could feel
the pinch from a moderate downturn “over some months or even during the whole of
2009, as until now it has grown at a very high rate.”
But even if Macau’s
casinos experience a fall in growth during 2009, they will still obtain a
significant amount of revenues, Ho told lawmakers.
Macau’s youth needs
more training so they “don’t have problems finding job,” Ho told the Legislative
Assembly. He also said Macau will donate the equivalent of US$ 687.5 million to
help in the reconstruction of the earthquake-devastated Chinese province of