This way we will not go far! Let’s be more audacious!

The IMF analysed the Macau economy and made some forecasts and recommendations.
In essence, this time, it did not behave badly.
Understandably, Macau does not need to go to markets to pay public debts or public deficits that do not exist!
We took notice of the change in GDP forecast for 2017 from 0.2 to 2.8 percent. I believe we will grow better!
The most important thing that this report seems to say, has to do with probably four issues, which I have been addressing over the course of several years.
The first and second have to do with the need for the government to invest in human resources and infrastructure, as these are usually the factors that can strangle the growth of the economy, since capital is abundant and land very scarce, and now even worse since some land plots have been taken back by the government.
And my opinion has been very critical regarding the government’s performance in these areas, since the later the adaptation of urban spaces to the requirements of development and the needs of tourism and the quality of life of the population, the more costly that investment will be for the economy.
Thirdly, is the question of pensions.
In this regard, I wrote in 2012 that, for a contribution of MOP45 per month, if all citizens over 65 received a pension (and at that time there were 39,728 citizens in this category, although not all of them received pensions), the government would have to inject about MOP24 billion over 20 years to be able to pay for these benefits!
If the ratio of retired people to the working population soared from 11 per cent (data from 2015) to 45 per cent in 2050, the level of government payments would increase dramatically.
Now imagine if these pensions approach a “decent” level?
This seems to me to be the great question raised: the sustainability of this social security system if pensions amounts evolve to a socially acceptable level! The community must not die working!
Finally, the question of the diversification of the tertiary economy, knowing that industrial diversification – instead of reducing its dependence on textiles, just killed the industry.
I still believe that 25 years from now, we will be able to diversify in some way, but still in the hands of the gaming industry and the Motherland, making us totally dependent and vulnerable!
A new tiger with feet of clay!
Can we work towards a bolder view!