The Macao government has injected MOP 14.4 billion (US$1.85 billion) into the city’s economy since the beginning of the pandemic in 2020.
“Between 2020 and 25 September this year, the government injected MOP 5.16 billion (US$660 million], MOP 5.28 billion [US$680 million] and MOP 3.98 billion into the market (US$510 million), totaling more than MOP 14.4 billion,” the Economic and Technological Development Bureau announced.
Of this amount, “about MOP 9.35 billion (US$1.2 billion) were used to assist small and medium-sized companies, representing around 65 per cent of the government’s total investment.” Consumption aid aimed at residents was distributed to the population mainly through electronic consumption cards that could be used in local commerce.
Macao, which follows Beijing’s policy of zero cases of Covid-19, betting on mass testing of the population and confinements to prevent the spread of the novel coronavirus, has so far recorded only six deaths and just over 2,400 cases, the vast majority asymptomatic.
Macao’s economy, which is heavily dependent on the gaming and tourism industry, has been significantly hit by the Covid-19 pandemic.
In 2019, the city registered nearly 40 million visitors, but last year it counted less than eight million.
