The government expected a budget deficit of over 40 billion patacas for this year due to the adverse impact of the COVID-19 epidemic on the local economy.
Business
The Macau Monetary Authority (AMCM) lowered its base rate (BR) of the discount window by 50 basis points to 1.50%.
The organiser of the annual gaming expo G2E Asia announced on Tuesday the event’s postponement from May 19-21 to July 28-30 at the Venetian in Cotai in response to the novel coronavirus epidemic.
Macau gaming operator MGM has announced further measures to assist small- and medium-sized enterprises (SMEs) in coping with the adverse impact of the COVID-19 epidemic.
Macau’s gross gaming revenues fell 87.8% year-on-year to MOP 3.1 billion last month.
Macau’s gross domestic product shrank 4.7% in real terms last year, the Statistics and Census Bureau (DSEC) announced on Saturday.
Macau’s international banking assets rose 12.7 per cent year-on-year to 1.71 trillion patacas (US$214 billion) at the end of last year.
Sands China is donating MOP 1.65 million to 33 elderly and rehabilitation centres indicated by the Social Welfare Bureau to assist them in tackling the spread of the COVID-19 and safeguard the health of their over 3,100 users.
The financial reserves of the Macau Special Administrative Region (MSAR) gained a record 5.6% last year, when they reached around MOP 580 billion (US$72.5 billion).