Estimates for Macau’s economic growth have been raised by the International Monetary Fund to 13.4 per cent this year and 7 per cent in 2018
The International Monetary Fund (IMF) has increased its estimates for the MSAR’s economic growth in 2017 and 2018 in its most recent World Economic Outlook report.
After having estimated in April that Macau would see its real gross domestic product (GDP) grow by 2.8 per cent and 1.7 per cent for this year and next, the IMF considers now that the MSAR would register a 13.4 per cent growth this year and a 7 per cent increase in 2018.
After seeing an inflation growth rate of 2.6 per cent in 2016, the report also believes the inflation rate in Macau would reach 1.5 per cent this year and go up to 2 per cent next year.
In terms of global economic growth, the IMF raised it’s estimates for this year and next by 0.1 percentage points to 3.6 per cent and 3.7 per cent, respectively.
The report considered that ‘notable pickups in investment, trade, and industrial production, coupled with stronger business and consumer confidence’ were supporting more positive growth predictions than earlier in the year to the ‘euro area, Japan, China, emerging Europe and Russia’.
‘After disappointing global growth over the past few years, this recent pickup provides an ideal window of opportunity for policymakers to undertake critical reforms to stave off downside risks, raise potential output, and improve living standards more broadly,’ the report indicated.