Moody’s Investor Service has announced that it is maintaining Macau’s long-term issuer rating of Aa3, ‘mainly based on its exceptionally strong fiscal and external positions’.
The group also highlighted the SAR’s absence of outstanding government debt, allowing it to withstand potential shocks.
In a release by the Monetary Authority of Macau (AMCM), it was highlighted that in the first quarter of this year Macau’s economy has returned to 85.2 percent of that seen in 1Q19.
This comes despite the challenges faced by the global economy in recent years.
Authorities indicate that they will continue to ‘consolidate the sustainability of Macau’s economic growth by methodically fostering appropriate economic diversification and regional cooperation’.
The onus of Macau’s 1+4 economic diversification strategy falls largely on the region’s six gaming operators.
