The IMF Concludes its In-person Consultation on Macao's Macroeconomic and Financial Assessments
The International Monetary Fund (IMF) Mission conducted its Article IV Consultation for Macao SAR during 21 February to 6 March 2024 and preliminarily concluded the SAR's macroeconomic and financial assessments.
In the Staff Concluding Statement of the 2024 IMF Article IV Mission, the IMF staff highlighted that Macao's economy exhibited a robust recovery alongside the full resumption of travel with the rest of the world. The Mission projected Macao’s economy to grow by 13.9% this year while economic output would return to its pre-pandemic level in 2025. Meanwhile, sufficient capital and liquidity buffers would buttress the resilience of Macao’s financial system against external shocks.
The IMF staff affirmed that the reformulated Financial System Act had enhanced the flexibility of Macao’s legal framework for financial regulation and supervision, laying the legal basis for promoting financial innovation. Meanwhile, the Mission stated that digitalisation had notably increased in Macao’s economy and suggested the Macao SAR Government to increase investments in infrastructure, education, occupational and on-the-job training as well as healthcare, which would improve Macao's productivity and support economic diversification policies. In addition, the IMF Mission recommended Macao SAR to leverage opportunities arising from its integration into the Greater Bay Area through comprehensive economic structural reforms.
After disseminating the Concluding Statement, the IMF would publish a detailed Staff Report of 2024 Article IV Consultation with Macao SAR within three months.
The IMF’s Concluding Statement on completing the 2024 Article IV Consultation with Macao SAR: link
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