IMF predicts Macau GDP to fall 29.6% this year

 

The International Monetary Fund (IMF) predicts Macau’s gross domestic product (GDP) to drop 29.6 per cent in real terms this year.

According to the Washington-based fund’s World Economic Outlook April 2020, Chapter I (dated April 6), Macau’s GDP is forecasted to rebound strongly next year with a real growth of 32.0 per cent year-on-year.

Consumer price inflation in Macau is projected to amount to 2.0 per cent this year and 2.3 per cent next year. Unemployment is predicted to stand at 2.0 per cent this year but to fall to 1.8 per cent next year.

The report points out that Macau’s GDP dropped 4.7 per cent in real terms last year, when consumer price inflation stood at 2.8 per cent and unemployment amounted to 1.7 per cent.

“The COVID-19 pandemic will severely impact growth across all regions,” the fund predicts in its Latest World Economic Outlook Growth Projection.