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Prefecture's economic statistics announced

Date Posted: 1999-03-02

The Okinawa Prefecture Planning Division announced its forecast for the economic growth of the prefecture for the fiscal 1999, Thursday. The division estimates that the prefecture's economy will grow at an annual rate of 1.6 percent in 1999, the lowest forecast ever.

The prefecture's economy grew at the actual rate of only 0.4 percent in 1998, a far cry from the two percent officials had predicted at the beginning of the year. Officials attributed the bad performance to the nationwide economic slump, and conspicuous drop in the general consumption.

The GNP of Okinawa Prefecture is estimated to be about 3.4372 trillion.

The Japanese Government officials forecast the nation's economic growth at 0.5 percent. Okinawa prefecture officials attribute their robust forecast to the expected effects of the planned economic special measures earmarked for Okinawa and the increase of tourism to Okinawa.

Officials expect 7.8 percent unemployment for 1999, a slight improvement from the current 8.6 percent. The number of people having a regular job is expected to be about 564,000.

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