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IMF projects Macau’s economy will contract slightly to 4.3% by 2019

Fri, 12th Apr 2019

Macau’s economy is expected to see a growth of 4.3% this year, down by 40 basis points from 4.7% in 2018, according to the latest economic forecasts from the International Monetary Fund (IMF).

The World Economic Outlook report, released on Tuesday in Washington, also projects that Macau’s economy will contract again in 2020, losing a tenth of a percentage point to 4.2%.

The rolling inflation rate, measured by the average of the last 12 months over the previous preceding 12 months, will fluctuate between 2.5% this year and 2.7% in 2020, with the unemployment rate remaining at 1.8% in both years.

The current account balance will remain, according to IMF forecasts, with very positive balances and even higher balances than in 2018, when it stood at 35.0% of Gross Domestic Product, with 37.4% and 38.7%, respectively.

In a broader table, with values for Gross Domestic Product since 2011, the IMF expects Macau’s economy to grow at a rate of 4.1% in 2024, with no projections for 2021, 2022 and 2023.

The IMF report also gives a forecast for the evolution of the current account in 2024, with a value of 41.7% of Gross Domestic Product.