Financial Secretary Donald Tsang Yam-Kuen has dismissed the likelihood of double-digit economic growth this year, estimating instead 'slightly better than 6 per cent'.
Last week, he raised hopes by suggesting strong growth in exports would translate into a 'significant improvement' on his earlier estimate of 6 per cent full-year growth.
But during a radio programme in Australia yesterday, Mr Tsang answered, 'no, no, no' when asked whether he was expecting double-digit growth in the coming year.
'Double-digit growth is a freak signal,' he said.
'We are a mature economy. The 14.3 per cent growth we registered in the first quarter of this year, I do not think it is repeatable in the quarters ahead. I would say [for] the year as a whole, we would be doing slightly better than 6 per cent.'
Growth would continue to be driven by trade and a rebound in tourism. He noted, however, that unemployment remained slightly higher than usual and property prices would be slow to return to their pre-crisis levels.
