Macau economy set for a 50% contraction in 2020

The Macau economy is expected to grow by some 35 percent in 2021, following a 50 percent contraction in 2020, ratings agency Fitch Ratings indicated in a report.

Local economy to contract by 50pct in 2020 but grow 35pct in 2021 – Fitch (Macau Business)

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Rating agency Fitch Ratings said it expects the coronavirus to have a significant cash flow effect on Macau casinos as governments’ precautionary measures continue.  However, the rating agency said it does not expect widespread downgrades, due to the solid credit profiles of casino operators. During the H1N1 (swine flu) pandemic in Asia, Macau’s gaming revenue […]