Ratings Agency Fitch has affirmed Macau’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at “AA” with a Stable Outlook, citing “exceptionally strong public and external finances” and forecasting that tax revenue generated through gaming will “well exceed” the government’s conservative 2026 forecast.
Gaming tax continues to account for more than 80% of the Macau government’s total revenues, with the city’s fiscal reserves having climbed to MOP$663 billion (US$82.3 billion) as of the end of November.
In a Wednesday note, Fitch said it expects the mass market, particularly the premium mass gaming segment, will remain relatively resilient in 2026, assuming solid visitation from mainland China. As a result, it sees GDP growth, while moderating, to reach 4.0% in 2026 from 4.7% last year.
