Interest of MOP 31 billion is offset by MOP 46 billion outlay to balance the budget shortfall caused by the ravages of Covid-19.
financial reserves
The financial reserves of the Macao Special Administrative Region (MSAR) stood at MOP 620.1 billion (US$77.7 billion) at the end of November last year.
Chief Executive Ho Iat Seng said on Sunday that the government would “cautiously” consider rolling out the third round of financial support measures for residents and businesses in line with next year’s performance of the local economy.
Macau’s Legislative Assembly has passed the government’s 2020 budget amendment bill, the first budget falling back on its financial reserves.
Macau’s financial reserves increased by 2.4 billon patacas.
Secretary for Economy and Finance Lionel Leong Vai Tac pledged on Monday that the government will strive to improve the performance of investments that it makes from its financial reserves.
The financial reserves and other asset values of the Macau Special Administrative Region (MSAR) rose by 2.4 billion patacas to 345 billion patacas last year, the Macau Monetary Authority (AMCM) announced on Wednesday. According to the announcement published in the Official Gazette (BO), the MSAR’s “basic reserves” amounted to 131.88 billion patacas and its “extraordinary […]
The government should establish an investment fund to manage Macau’s financial reserves, said Delta Asia Financial Group Chairman Stanley Au Chong. Au made the appeal on the sidelines of a banquet celebrating the 80th anniversary of the founding of Banco Delta Asia, a local bank owned by the group, at Grand Hyatt Macau in Cotai […]
A portion of the MSAR’s financial reserves could be transferred to mainland China for investment purposes. The government intends to introduce the measure in order to boost bilateral cooperation. It also expects the return of the investment to potentially reach 4 percent, which would be higher than the 2 percent recorded last year but still […]