In a widely-noted World Economic Outlook report, the International Monetary Fund now projects that Macau’s GDP will fall by 29.6 percent over the course of 2020.
“It is very likely that this year the global economy will experience its worst recession since the Great Depression, surpassing that seen during the global financial crisis a decade ago. The Great Lockdown, as one might call it, is projected to shrink global growth dramatically,” the report stated.
However, the IMF also believes that the coronavirus challenge will likely be overcome and that 2021 will witness a major rebound, with Macau’s GDP gaining 32 percent.
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