Macau’s economy is expected to grow by 13.4% this year, after having contracted by 2.1% in real terms in 2016, according to the World Economic Outlook report released in Washington by the International Monetary Fund (IMF).
The current forecast represents a significant increase of 10.6 percentage points over the estimate announced in April, when the IMF predicted 2.8% economic growth for Macau.
For 2018 and 2022, the International Monetary Fund now anticipates growth rates of 7.0% and 4.3%, respectively, with the forecast for the 2018 revised upwards by 5.3 percentage points against the projection announced in April.
The IMF also forecast that the unemployment rate in Macau will remain low at around 2.0% and that the integrated local government financial account will continue to be positive both this year and next.
The IMF started the “Article IV Consultation” in 2014 to the Macau Special Administrative Region of the People’s Republic of China, as well as the regular collection of economic and financial data from Macau for the purpose of global assessment.
The Macau Special Administrative Region was included in the macro economic forecasts of the World Economic Outlook in April 2016. (macauhub)