CE: Budget ‘too tight’ for additional support measures

Legislative Assembly (AL) lawmakers heard yesterday from the Chief Executive (CE), Ho Iat Seng, there will be no added support measures for the population or companies next year, besides the ones presented earlier, as the “budget is too tight.”

Several lawmakers including Chui Sai Peng, Ella Lei, Lei Chan U, Song Pek Kei, and Che Sai Wang, asked about potential new measures to support small and medium enterprises (SMEs) to be launched next year.

The CE said “there is no margin in next year’s budget to even think of implementing any more measures besides the ones already presented.”

Ho said Macau’s economic recovery has reached about 71% compared to pre-pandemic levels but that next year’s budget, although presenting a small surplus, had a very slim margin that did not allow the government to consider any more support measures.

“We hope that next year will be even better [income wise],” Ho said, adding, “Even with the small margin [on income in comparison with expenditure] on the budget, the focus was to keep the social benefits.”

“This budget was a very complex one to put together and was revised many times. Only on its last revision was it possible to resume the 7,000 patacas [of the provident fund],” he said, noting the year will still be one of cost and expenditure containment.

Ho said the government can help support SMEs by continuing some programs started during the pandemic and continuing revitalization of the old neighborhoods to attract more tourists to improve business.

“SMEs are living under pressure, this is undeniable. But what we can do to help is keep the measures we have launched before and that continue next year.”

National Games: Sports venues to undergo revamp next year

Responding to lawmaker Ma Chi Seng, the Chief Executive, Ho Iat Seng, has said the renovation and improvement of sports venues for the National Games of China 2025, in which Macau is a co-organizer with Guangdong Province and Hong Kong region, started this year but most of the work will happen in 2024.

Ho reaffirmed Macau will not host more than 10 categories or events from the Games and that the preparatory works, including the recruitment of volunteers, has already been done, with 9,100 people volunteering.