The International Monetary Fund has adjusted downwards its predictions for Macau’s economy due to the impact of the pandemic.<\/p>\n\n\n\n\n\n\n\n
Macau.- The International Monetary Fund has revealed its predictions for national economies, adjusting downwards its forecast for Macau. <\/p>\n\n\n\n
It April it had predicted the SARs GDP would contract by 29.6 per cent this year. It now forecases GDP will drop 53.5 per cent.<\/p>\n\n\n\n
The scenario became more pessimistic due to the continued impact of the pandemic on the city. For 2021, the IMF now predicts a 23.9 per cent contraction, rather than the 32 per cent recovery it had predicted previously.<\/p>\n\n\n\n
The IMF predicts that the annual rate of inflation in Macau will reach 1.7 per cent this year, and 1.8 per cent in 2021.<\/p>\n\n\n\n
This year will end with an unemployment rate of 2.3 per cent, it predicted. The rate is currently 2.8 per cent, but 4 per cent for local residents. The IMF expects employment to drop to 2 per cent next year.<\/p>\n\n\n\n
Meanwhile, Hong Kong is expected to see a 7.5 per cent contraction in GDP for 2020 and a 3.7 per cent recovery in 2021. <\/p>\n\n\n\n
The IMF expects mainland China to be the only country in the world to see positive growth in 2020. It predicts China’s GDP will rise by 1.9 per cent this year, and 8.2 per cent in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund has adjusted downwards its predictions for Macau’s economy due to the impact of the pandemic.<\/p>\n","protected":false},"author":2,"featured_media":10893,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The International Monetary Fund has significantly downgraded its economic forecast for Macau, now predicting a 53.5% GDP contraction for 2020 and a 23.9% contraction for 2021, a stark reversal from previous recovery projections. This pessimistic outlook is attributed to the ongoing impact of the pandemic, with implications for inflation and unemployment rates in the SAR.","focusai_entities":"International Monetary Fund","focusai_location":"Macau, Hong Kong, China","focusai_target_profile":"ceo_executive (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9), marketing_crm (0.7)","focusai_suggestions":[{"label":"Operator GGR Impact","query":"What is the projected impact of Macau's revised GDP forecast on the Gross Gaming Revenue (GGR) and Net Gaming Revenue (NGR) for major integrated resort operators in the region for FY2020 and FY2021?"},{"label":"Capital Market Revisions","query":"How are capital market analysts adjusting their valuation models and earnings per share (EPS) estimates for publicly traded gaming companies with significant exposure to Macau, given the IMF's revised economic outlook?"}],"footnotes":""},"categories":[160,16338,163,158],"tags":[21298,257],"class_list":["post-10890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","category-slider-home","tag-finances","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10890"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10890\/revisions"}],"predecessor-version":[{"id":10907,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10890\/revisions\/10907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10893"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}