Secretary for Economy and Finance Lionel Leong says the government is confident that Macau’s economy will record “modest” growth this year. Macau’s economy in the first half of last year continued the downward trend seen in 2015, the second half of 2016 recorded a “relatively stable” performance.
economy
Secretary for Economy and Finance Lionel Leong Vai Tac said on Monday the government needed to increase public investment to help boost the local economy amid its current downturn. Leong made the remarks when attending a plenary session to present the government’s 2017 budget bill, which was unanimously passed by the legislature. According to the […]
Macau’s economy has begun a process of “significant transition”, and the government has used the opportunity to adopt a less volatile economic model and more sustainable funding sources, said the International Monetary Fund (IMF), in a statement in Washington. The IMF mission that was in the territory from 3 to 4 November, which will produce […]
The Chinese city of Changzhou will house the Jiangsu-Macau cooperation park, according to a memorandum signed on Friday by the Chief Executive of Macau, Chui Sai On and the governor of Jiangsu Province, Shi Taifeng. The Chief Executive said that the Government of Macau will take advantage of the valuable experience of Jiangsu in international […]
Macau’s gross domestic product will drop 4.7 per cent in real terms this year, the International Monetary Fund (IMF) predicts in its World Economic Outlook October 2016. The Macau Post Daily received the report from the Washington-based lender on Wednesday. In its April outlook, the fund had still forecast a negative GDP growth of 7.2 […]
The fall in Macau exports of services relating to games of fortune should reach its lowest point this year, and the economy as a whole will contract 5.9 per cent, in real terms, according to Economist intelligent Unit (EIU). The growth rate of gross domestic product will reverse the downward trend registered since 2014, when […]
A Monetary and Financial Stability Review compiled by the Monetary Authority indicates that Macau’s economy is back on track and could resume growth already next year. “Macau SAR’s current economic adjustment is cyclical, and the sign of bottoming-out is looming. Economic contraction is likely to continue through 2016 but the degree is narrowing as mainly […]
Annual inflation in Macau in June continued to slow down, posting an increase of 2.26 per cent year on year, or a decrease of 0.38 percentage points compared to May, reported the city’s Statistics and Census Bureau. Growth in June was mainly due mainly to rising car park rates as well as the prices of […]
Banco National Ultramarino, S.A. (BNU) recorded a net income of MOP 510.3 million (USS63.88 million) in 2015, up 15.1 per cent from MOP 443.3 million in 2014, according to a press release issued on Tuesday by the bank. The financial results also indicate that in 2015 BNU registered a 21.6 per cent increase in credit […]