Bank of China, ICBC, Luso International, Tai Fung Bank, CGB, Mpay, AliPay and UePay lend support to e-payments.
macao economy
Workers who once earned MOP 20,000 monthly now scraping by, suffering from depression and contemplating selling off their assets.
Government also plans to spend MOP 1.326 billion on subsidising business and residential water and electricity bills for a period of six months.
Gaming tycoon and political bigwig demands practical help for gaming industry, warns that failing Macao economy will adversely affect One Country, Two Systems.
Economy expected to accelerate to 23% in 2023, growth not expected to surpass pre-pandemic levels until 2025.
Chief Executive laments Macao continues to suffer the effects of Covid-19 and poor visitor numbers, rising unemployment and declining birth rate.
International ratings agency paints cautiously rosy future for city and its main industry, notes Macao’s finances are among strongest across Fitch-rated sovereigns.
Reserves remain strong despite substantial outlays, standing at MOP 616 billion at the end of last year.
Ho Iat Seng points to signs of gradual recovery, undertakes to make progress in developing big health, modern finance and other new industries.
