Public expenditure in Macau continues to rise, revenue to fall
Friday 09 de July 2021 / 08:42
⏱ 1 min read
(Macau).- Public expenditure in Macau continues to rise and revenue to fall, according to the latest data released yesterday by the Financial Services Bureau (DSF). The balance for the year in the first six months of the year is positive MOP5.2 billion (US$649.8 million) but lower than the MOP23.2 of last year.
In the first half, current revenue was just over MOP26 billion, compared to MOP26.8 billion in 2020, one year which strongly affected the gaming capital of the world due to the Covid-19 pandemic.
From this current revenue, the government collected MOP19.6 billion in gaming taxes, according to the budget execution report, when in the same period of the previous year, MOP21.7 billion million were reported.
Total revenue declined from MOP67.8 billion in the previous year to MOP49 billion this year, while public spending rose: in 2021 expenditure up to June was MOP43.7 billion, compared to MOP44.6 billion in the previous year.
Since late January 2020, the pandemic has had an unprecedented impact on Macau’s economic engine, gambling, with taxes on this industry’s revenues typically funding the overwhelming majority of the government budget.
With the increase in visitors from mainland China, casino results started to improve this year, which posted record revenue in May, but in June casino revenue posted the worst result this year. With advances and retreats, the values are still far from the amounts collected in the pre-pandemic period.
Since the beginning of 2020, the Macau Government’s budgets have been marked by successive changes and stimulus packages aimed at small and medium-sized enterprises, the population in general and encouraging consumption.
Categoría:Casino
Tags: Sin tags
País: Macao
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