The government’s receipts from gross gaming revenue taxes in the first eight months fell by 70.2 per cent year-on-year to MOP 22.8 billion (US$2.87 billion), the Financial Services Bureau (DSF) announced last week.
Gaming tax receipts accounted for 70.3 per cent of the government’s total current revenue between January and August.
The government’s total revenue dropped by 14.7 per cent to MOP 74.9 billion. While its total current revenue dropped 64.6 per cent to MOP 30.27 billion, its total capital revenue rose by 1,797.3 per cent from MOP 2.35 billion in the first eight months of last year to MOP 44.65 billion in the same period of this year.
In response to the severe impact of the COVID-19 pandemic on the local economy, the government has fallen back upon some of the financial reserves of the Macao Special Administrative Region (MSAR).
The government total current expenditure in the first eight months increased by 20.2 per cent to MOP 50.85 billion, while its total expenditure (including capital expenditure) rose by 11.7 per cent to MOP 55.45 billion, resulting in a budget surplus of MOP 19.47 billion, a year-on-year decline of 49.1 per cent.