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The government will spend up to 30 percent of the 2024 budget on welfare measures

Secretary for Economy and Finance Lei Wai Nong also predicted that gross gaming revenue for 2023 could top 200 billion patacas.

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Secretary for Economy and Finance Lei Wai Nong also predicted that gross gaming revenue for 2023 could top 200 billion patacas.

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PUBLISHED

UPDATED: 21 Dec 2023, 11:05 pm

Welfare measures are set to make up as much as 30 percent of the government’s total expenditure next year, the Macau Post Daily reports.

Secretary for Economy and Finance Lei Wai Nong made the announcement at the Legislative Assembly yesterday, according to the paper.

He said that the government would continue to prioritise senior citizens, students, low-income households, and small-to-medium-sized local businesses when allocating finances.

[See more: The Chief Executive delivers his 2024 Policy Address]

Other estimates put the total welfare measures spend at closer to 23 percent of government expenditure, with Ponto Final reporting that around 24.6 billion patacas of the government’s forecast 105.94 billion in total expenditure in 2024 would go towards promoting people’s well-being. 

It listed a number of areas, including healthcare, education, and electricity, that would benefit from subsidies.

It also noted that Lei predicted this year’s gross gaming revenues could reach 202 billion patacas – a jump of more than 70 billion more than what the 2023 budget had forecast.

 

UPDATED: 21 Dec 2023, 11:05 pm

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