Economists warn GDP may shrink 14.7 pct in 2015

2015/4/24

From：Macau Business

The University of Macau’s economics department estimates that the economy may shrink by 14.7 per cent this year – its biggest contraction since 1982 – if the slump in gaming persists, Business Daily reports.

The newspaper quotes the university’s 2015 Macroeconomic Forecast as saying the estimate is based on the assumption that casino gross gaming revenue will average MOP20 billion (about US$2.5 billion) a month for the rest of the year.

The estimates of the economic contraction given by the university’s economists range from 9.4 per cent to 20.4 per cent.

Their mean forecast of gross domestic product this year is MOP323 billion.

Copyright@Macau Business