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Analysis

Macau’s fiscal reserves fall 13% to USD 69B in 2022

Thursday 23 de February 2023 / 12:00

2 minutos de lectura

(Macau).- The Macau government announced Wednesday that its fiscal reserves fell to around MOP$558 billion (US$69.1 billion) at the end of 2022, down 13.2% from MOP$643.2 billion (US$79.6 billion) a year earlier.

Macau’s fiscal reserves fall 13% to USD 69B in 2022

Impacted by the loss of tax revenue from the gaming and leisure industry as a result of COVID-19-induced travel restrictions, basic reserves fell by 26% on the previous year to MOP$185.1 billion (US$22.9 billion) and excess reserves by 33% to MOP$372.8 billion (US$46.1 billion).

The Monetary Authority of Macao noted that the fiscal reserves of the Macau SAR were also weighed down by negative factors such as the geopolitical crisis, the pandemic disrupting the global supply chain and the significant interest rate hikes by major central banks, and recorded a book loss of MOP$20.75 billion (US$2.57 billion) for the year, with an annual rate of return of -3.4%.

However, the it also pointed out that from 2017 to 2021 its fiscal reserves recorded a total book profit of MOP$95.18 billion (US$11.8 billion).

The Macau government twice used its excess reserves in 2022 to deal with the pandemic situation, accessing a total of MOP$72.7 billion (US$9.0 billion). At the same time it only collected MOP19.1 billion (US$2.36 billion) in gaming taxes in 2022.

Fiscal reserves in 2019, prior to the pandemic, were MOP$579.4 billion (US$71.7 billion), rising to MOP$616.12 billion (US$76.3 billion) in 2020 after benefiting from investment return and to MOP$643.17 billion (US$79.6 billion) in 2021.

Categoría:Analysis

Tags: Sin tags

País: Macao

Región: Asia

Event

SBC SUMMIT RIO 2024

05 de March 2024

Andre Gelfi explains the new regulation in the Brazilian gaming and betting market

(Rio de Janeiro, SoloAzar Exclusive).- The Managing Partner of Betsson group in Brazil, Andre Gelfi, was another key figure present at the inaugural SBC Summit Rio. In this exclusive interview with SoloAzar, he shared insights about the gaming and betting market in Brazil. Gelfi emphasized the hot topic of Brazilian regulations for the iGaming industry. In fact, he expressed his anticipation that the regulation, expected to be approved this year, will create a new landscape in the Brazilian market

Wednesday 27 Mar 2024 / 12:00

Influencers: "Between Effectiveness and Responsibility in the Gaming Industry".

(Rio de Janeiro, SoloAzar Exclusive) - As part of the Conference "Influencers: The Next Frontier of Social Media Marketing", as part of the Conference Agenda held on 6 and 7 March at the SBC Summit Rio 2024, leading industry personalities gathered in a panel to discuss the impact of the power of celebrities and influencers in generating engagement, as well as the proposed law that seeks to restrict their promotion of gambling.

Wednesday 27 Mar 2024 / 12:00

Pay4Fun: “We have ambitious expansion plans in the Brazilian market”

(Rio de Janeiro, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder of Pay4Fun, is a key figure in the world of iGaming. His company, Pay4Fun, is a leading Brazilian online payment provider specializing in the iGaming market. During the first edition of the SBC Summit Rio, Baptista spoke exclusively with Soloazar, sharing insights about the new services that Pay4Fun will introduce to the market. He also discussed his vision for the future of iGaming in Brazil and Latin America. Another unmissable note by SoloAzar.

Wednesday 27 Mar 2024 / 12:00

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