The global financial institution expects Macao to come roaring out of the pandemic and sustain double-digit growth into 2024.
economy
Some 447,000 residents collect benefits on first day of scheme; money can be used to settle utility bills or for regular shopping until end of February 2023.
Emergency cash will finance new round of consumption benefits, and subsidise utility bills for homes and businesses.
Ho Iat Seng points to signs of gradual recovery, undertakes to make progress in developing big health, modern finance and other new industries.
AMCM says pataca exchange rate dropped against currencies of Macao’s major trading partners on a monthly basis but grew on an annual basis.
IMF predicts substantial growth this year and next, while unemployment and inflation should both remain low.
Macau’s economy is expected to grow at an average real rate of 7.8% this year and 2018, boosted by the recovery in services exports, particularly those related to gambling, according to the latest Economist Intelligence Unit (EIU) report.
Fitch Ratings projects 12% gaming revenue growth in Macau for 2017 with equal contributions from the mass market and VIP segments.
Macau’s economy grew 7 percent in the fourth quarter of last year, followed by a 4 percent rise in the previous homologous period, the Secretary for Economy and Finance, Lionel Leong, announced on Wednesday.