Macau’s GDP to post average real growth of 12.25 pct in 2014 and 2015

19 December 2013

Macau’s real Gross Domestic Product (GDP) is expected to grow by 13.5 percent in 2014 and to fall to 11 percent in 2015 due to a drop in investment following the conclusion of new casino projects, according to the Economist Intelligence Unit (EIU).

In its latest report on Macau, the EIU said that consumer prices would continue to rise at a high rate, with inflation of 6 percent in 2014 and 6.3 percent in 2015.

The report said that the government of the territory would continue to amass tax surpluses, which in 2014/15 are expected to reach an annual average of 23.5 percent of GDP.

The EIU report, to which Macauhub had access, noted that Macau’s economy is excessively dependent on the gaming and gambling sector and the regular influx of high rollers from China and that government efforts to promote economic diversification have yet to have any significant results. (macauhub)