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MACAU GOVERNOR UNDERLINES SOCIAL PROGRESS
AND ECONOMIC DEVELOPMENT IN HIS
1999 POLICY AND BUDGETADDRESS

pa5gr1.jpg (47689 bytes)   Macau's Governor, Gen. Vasco Rocha Vieira, has underlined the issues of social progress and economic development in his 1999 policy and budget address.

     Gen. Vieira delivered the address covering Macau's last budget under Portuguese administration on November 30, 1998.

     Speaking before the 23-member Macau Legislative Assembly, the Governor said that 1999 was "perhaps the most important period of time to assert the singularity and identity of Macau."

     The Government 's balanced 12.3 billion pataca budget includes 2.8 billion patacas in surpluses accumulated over the past few years. Macau's Portuguese administration under Gen. Vieira will return the Territory to Chinese rule without any public debt or other financial problems, apart from an eight billion pataca Land Fund.

     Gen. Vieira said in his address that relations between Portugal and China over Macau matters had traditionally been amicable.

     The Governor also emphasised the success of his administration's continued modernisation programmes covering a wide range of areas, namely new schools and health centres, social housing, sports facilities, cultural heritage protection, sewage plants, free education and upgraded hospital facilities, apart from a state-of the-art international airport and the region's most modern refuse incineration plant.

     The Governor acknowledged, however, that the 1999 budget planning had been affected by the region's financial turmoil impacting on the local business environment. He said the government's fiscal situation continued, nevertheless, to be stable and balanced, based on prudent budgetary policies. 

( 1US$@8 Patacas)

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