The Macau Economic Association’s forecast is in contrast to a report published earlier this month by Moody’s, which downgraded Macao to ‘negative’.
International Monetary Fund
The switch, while potentially risky, could yield significant benefits to the southern African country, IMF officials argue.
Washington says it will impose sanctions on Macao from next year over the territory’s alleged failure to combat the scourge of trafficking.
Both companies reported to be ‘technically insolvent’; improving control of public debt part of commitment made to IMF for US$470 million financial assistance programme.
Revenue expected to provide economic lifeline for republic plagued by debt scandal, Islamic State-linked insurgency, natural disasters and Covid-19.
Network in poor state following suspension of foreign aid in wake of US$2 billion loan scandal involving Finance Minister, Manuel Chang.
IMF predicts marginal economic improvements for other Portuguese-speaking countries, forecasts 8.2% inflation for Brazil.
Analysts point to growth in non-oil sector showing clear signs of recovery, likely to contribute to country’s economic growth over medium to long-term.
Economy expected to accelerate to 23% in 2023, growth not expected to surpass pre-pandemic levels until 2025.
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