A Legislative Assembly (AL) committee has found that the execution rate of the 2013 government budget was only 39.6 percent, the lowest since 2009. Chan Chak Mo, president of the AL Second Standing Committee, revealed after a committee meeting yesterday that the Committee has finished discussing the 2013 budget execution report. Members have since signed the opinion document, which contains suggestions made by the committee’s lawmakers.
Anti money laundering memorandum with US
The Chief Executive Chui Sai On has approved the Secretary for Economy and Finance, Francis Tam, to represent the MSAR in the signing of an anti money-laundering memorandum of understanding with the Financial Crimes Enforcement Network of the United States Treasury Department. The announcement was published in the Government Gazette yesterday. The memorandum of understanding is about the exchange of intelligence and information in the prevention of money-laundering and financing of terrorism. According to the website of the MSAR Financial Intelligence Office, Macau has already signed memoranda of understanding and cooperation agreements with 12 countries and regions.
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