According to the IMF, the Chinese territory’s GDP will slow sharply in 2018 and remain flat during next year.
Macau.- The International Monetary Fund released its Autumn World Economic Outlook and revealed that Macau’s gross domestic product (GDP) will likely slow sharply in 2018. The report also shows that the indicator will probably remain flat in 2019.
According to the IMF, GDP growth this year and the next is projected to be 6.3%, down from the 9.1% recorded in 2017. Furthermore, it expects mainland China to slow down as well to 6.2%, 0.4% less than the 6.2% shown last year, following a continent-wide trend which will only have India and the Philippines showing slightly stronger growth.
“The possibility that China and the U.S. resolve their disagreements would be a significant upside to the forecast,” the economic counsellor and director of the IMF’s research department Maurice Obstfeld said and added: “You know, at some level, I think it is not surprising that we are more tentative in our optimism than we were six months ago because, if you have the world’s two largest economies at odds, that is a situation in which everyone, everyone is going to suffer.”