The University of Macao released the forecast of Macao's economic growth this year

2022-01-27

The University of Macao released its latest macroeconomic forecast for 2022 on the 26th. It is expected that Macao's economic growth will be between 3.6% and 37.9% in 2022, and the final annual revenue of the Macao SAR government will be maintained at about 51.2 billion yuan to 65.9 billion yuan (Macao dollars, the same below). The forecast is released by the "Macao macroeconomic model research group" composed of the Macao research center and the Department of economics of the University of Macao. In response to possible epidemic changes and government policies, the research group has made different scenario presets on the number of visitors to Australia throughout the year to show the possibility of different recovery speeds. The research group expects the annual number of passengers to be about 9.9 million to 21.7 million. Four scenarios are set in the forecast. The number of passengers is 99 million (25% in 2019), 138 million (35% in 2019), 177 million (45% in 2019) and 217 million (55% in 2019). Based on this, the forecast of economic growth is 3.6%, 15.3%, 26.2% and 37.9% respectively. The research group said that the annual number of visitors to Australia in 2021 was 7.71 million, only 19.6% of that in 2019. Therefore, in the first three quarters of 2021, although the overall economy rebounded from the low level in 2020, the strength is still insufficient. He Weixiong, an associate professor in the Department of economics at the school of Social Sciences of Australian University, said that the overall forecast will not be much different from last year, and the main key variable is passengers. It is suggested that the SAR government continue to increase investment and support small and medium-sized enterprises. It is believed that the society has expectations for people's livelihood support measures and can accurately launch a new round of support measures. (Xinhua News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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