Geopolitical crisis, the Covid-19 pandemic and interest rate hikes by major central banks take their toll, with the AMCM forecasting enormous challenges this year.
Macao financial reserve
Next year’s budget increases by five per cent but no salary increase for civil servants; Macao’s financial reserve in September down by 2.95% to MOP 562.9 billion.
In the first six months of 2022, Macao lost MOP 46 billion representing 7.13% of the SAR’s reserve, as knock-on effects of Covid-19 took their toll.
Reserves remain strong despite substantial outlays, standing at MOP 616 billion at the end of last year.
