Macau’s current revenue in January 2024 increased nearly fourfold from the same month in 2023. The recovery of gaming taxes contributed to this growth, with the government also increasing public spending by 28.5%.
Current revenue reached MOP10.3 billion in January, the highest value since 2019, before the COVID-19 pandemic. Of this revenue, MOP7.34 billion was collected in gaming taxes. In January, Macau collected 10.1% of its projected current revenue for 2024, which is MOP102 billion, according to the budget.
The government’s budget execution report indicates that government revenue could reach MOP109.6 billion for the year, a 7.5% increase from the initial budget estimate. Public spending also increased by 28.5% to MOP5.07 billion in January, primarily due to investment in infrastructure.
However, current spending decreased by 3.5% to MOP3.81 billion due to a reduction in social support and subsidies to the population.
Macau’s budget for 2024 aims to achieve surpluses in the public accounts without resorting to the financial reserves, after three years of economic crisis caused by the pandemic.
The city had MOP5.24 billion in public accounts in January, the highest value seen in four years. Staff Reporter
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