Fiscal surplus drops sharply, public expenditure up 49 pct

Civil servants attend residents. Public expenditure increased by 49.4 percent year-on-year

Civil servants attend residents. Public expenditure increased by 49.4 percent year-on-year

Macau recorded a fiscal surplus of MOP25.28 billion in the first five months of this year, down by 54.9 percent from the year before, according to the latest figures released by the Financial Services Bureau.
Total public revenue in the past five months stood at 46.42 billion patacas, decreasing by 33.8 percent year-on-year, the bureau results indicated.
This noticeable drop in public revenue is partly the result of the sluggish performance of the gaming industry since last June, which saw an average decline of 24.4 percent for the 12th consecutive month. The decrease rate in revenue from “direct taxes from gaming” extended to 35.4 percent in the January-May period.
Conversely, the figures indicate that the total public expenditure in the first five months of this year increased remarkably by 49.4 percent year-on-
year to MOP21.14 billion, among which capital expenditure escalated significantly by 82.9 percent. MDT/Xinhua

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