Secretary for Economy and Finance said last month he expected this year’s government GGR tax receipts to be around MOP 130 billion, which is around MOP 10 billion per month.
Lei Wai Nong
The government will continue to run a budget deficit, although formally the budget is a balanced one thanks to a cash injection accounting for nearly 28% of next year’s expected government revenue.
The Legislative Assembly passed the government’s third 2020 budget amendment bill.
Christmas and the Chinese New Year (CNY) are the peak holiday seasons in Macao, therefore the city can expect more visitors from the mainland during that time, Secretary for Economy and Finance Lei Wai Nong told reporters on Wednesday.
Secretary for Economy and Finance Lei Wai Nong has announced that the government has decided to give residents their annual “wealth-sharing” handout in cash next year – as in previous years.
Secretary for Economy and Finance Lei Wai Nong said during his introductory speech about his portfolio’s policy guidelines for next year on Friday that he expected the government’s Covid-19 prevention and control measures to be “normalised” next year, adding that protecting residents’ lives and health would remain the government’s top priority.
Secretary for Economy and Finance Lei Wai Nong said that the local government has not yet carried out an in-depth study on the possibility of setting up a Macao securities exchange in Hengqin, but it would keep an open mind on the possibility.
Macao’s annual wealth-sharing handout next year will once again be paid out in cash, Secretary for Economy and Finance Lei Wai Nong has told lawmakers.
The government has announced that it will submit a bill amending its budget for this year for the third time to the legislature, proposing to allocate MOP 8.15 billion (US$1.02 billion) from its extraordinary reserves so as to cover its expenditure to be spent during the remainder of this year.