The Macau Financial Reserve accounts have recorded growth this year, with the first five months of 2023 showing a positive balance of MOP13.45 billion, according to an official report published on the government’s official gazette by the Monetary Authority of Macao.
The good results appear to be driven by the gaming industry that has climbed steadily month-on-month, achieving some MOP49.4 billion in gross revenue and that in the first four months of this year.
With the May results being even better and with high hopes for the summer holidays, it is expected that the Financial Reserve will continue to grow more over the next few months.
At the end of April, the total balance of the accounts was MOP569.93 billion, with the basic reserve account reaching MOP152.06 billion, while the extraordinary reserve account amounted to MOP404.42 billion.
Nonetheless, due to the government recently needing to access these reserves to compensate the lack of income from the gaming industry over the pandemic period, the balance of the reserves is still some MOP73 billion below the balance reached at the end of 2021 (MOP643b). RM
