Gaming

Macau: Current revenue only 37 pct of total expenditure in Jan-Sept

Friday 21 de October 2022 / 07:52

⏱ 1 min read

(Macau).- The SAR’s current revenue stood at MOP26.6 billion (US$3.25 billion) in the first nine months of 2022, accounting for just 37 per cent of the SAR’s total expenditure which reached MOP70.3 billion (US$8.7 billion), figures from the Financial Services Bureau indicate.

Macau: Current revenue only 37 pct of total expenditure in Jan-Sept

To close the MOP43.7 billion (US $5.4 billion) gap and provide extra social and economic aid, the government used the fiscal reserve.

The Bureau’s budget execution table includes MOP58 billion (US$7.25 billion) categorized as capital revenue, which is understood as basically referring to the money allocated from the fiscal reserve.

As a result, by the end of September the administration was running a MOP14.3 billion (US $1.79 billion) surplus.

However, the government will still be injecting in the economy a second round of MOP10 billion.

Government revenue suffered primarily from a dismal performance of the SAR’s core industry, gaming. Taxes on gaming revenue between January and September were MOP15.12 billion (US$1.89 billion), as Macau’s gross gaming revenue for the first nine months of 2022 reached MOP31.8 billion, 53 per cent less than in the same period of last year.

Overall direct taxes on other activities stood at MOP6.73 billion, up by 11.9 per cent, while indirect taxes reached MOP1.93 billion, down by 32 per cent, compared with the first nine months of 2021.

Categoría:Gaming

Tags: Sin tags

País: Macao

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