Macau’s economy will shrink 4.7% in 2016, IMF says

6 October 2016

The Macau economy is expected to contract 4.7% this year and return to positive growth in 2017, with an increase of 0.2%, according to the latest forecasts from the International Monetary Fund (IMF).

These new forecasts contained in the “World Economic Outlook” report, released on Tuesday in Washington are similar to those published by the Economist Intelligence Unit (EIU), which in its latest document on Macau forecasts a real drop of 5.9% this year and a rise of 5.3% in 2017.

In its April report, the International Monetary Fund forecast a real contraction of Macau’s economy of 7.2% this year.

In the report issued on Tuesday the IMF also said inflation at the end of the year will be 2.6%, rise 20 basis points to 2.8% in 2017 and the unemployment rate will remain fairly low, at 1.9% and 2.0% in 2016 and 2017, respectively. (macauhub)