IMF: Macau economy expected to grow in 2017
The International Monetary Fund (IMF) has published its latest World Economic Outlook report including, for the first time, forecasts for Macau’s major macroeconomic indicators.
According to the report, the local economy is expected to contract by 7.2 percent for 2016 and to resume a positive growth of 0.7 percent for 2017. Inflation and unemployment rates are predicted to remain at around 3 and 2 percent, respectively.
The IMF predicts that the global economy will grow by between 3.2 and 3.5 percent for 2016 and 2017, respectively. The respective figures are 0.2 and 0.1 percentage points lower than earlier forecasts made in January.
The pace of global economic recovery is expected to slow even more this year due to increased volatility in financial markets and weakened demand in large commodity-exporting countries.
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