China’s domestic rating agency Dagong Global Credit Rating Co. Ltd. decided this week to maintain the credit rating of Macau at AA+ with a stable outlook.

Given strong domestic demand and the relatively stable outlook for gaming, Dagong estimated that the economic growth rate of the city in 2011 would reach 21 percent, dropping to 16 percent next year, Xinhua official news agency reported.

Dagong expects the fiscal surplus of Macau in 2011 and 2012 will be equal to 22.1 percent and 18.4 percent of domestic gross domestic product, respectively.

However, Dagong warned that a lack of core competitiveness, the high dependence of leading industries on external economies and tightening labour conditions are likely to restrict Macau’s growth in the long term.