Gov’t expects MOP240b GGR in 2025

The government has projected gross gaming revenues (GGR) of MOP240 billion for 2025, an increase of approximately 11% compared to the current year’s budget estimate of MOP216 billion.

This forecast is detailed in the 2025 fiscal budget submitted to the Legislative Assembly (AL).

The government anticipates continued recovery in the integrated tourism and leisure sector, expecting an uptick in visitor numbers. However, it acknowledges that “the tourism and consumption model may change.”

In 2025, the government plans to invest MOP25.78 billion in various initiatives aimed at enhancing the well-being of the population. This includes a pecuniary participation plan and an extraordinary distribution of budget surpluses amounting to MOP7,000 under the non-mandatory central pension scheme.

The2025 budget proposal includes a cash sharing plan, estimated at MOP8.564 billion, which will provide direct financial support to the people.

Additionally, the government has allocated resources to medical subsidies and residential electricity subsidies, intended to alleviate the financial burden on households. This budget places an emphasis on investing in the long-term growth and development of the local population, with a significant allocation of MOP13.94 billion towards the continuing education development plan.

The budget also includes provisions for free education subsidies, tuition fee subsidies for Macau resident students, study supplies subsidies for college students, and support for private education institutions. In addition, the budget seeks to address the needs of seniors and the disadvantaged within society, with seniority allowances, pensions, disability pensions, disability allowances, and special subsidies for three types of disadvantaged families, as well as regular assistance.

The proposed budget law for next year retains a range of tax deduction and exemption measures totaling approximately MOP4.8 billion. Estimated budget expenditure for the Investment and Development Expenditure Plan (PIDDA) is set at MOP19.7 billion for the economic year 2025.

Overall, the budget is projected to yield a surplus of MOP7.7 billion, with anticipated revenues of MOP121 billion against expenditures of MOP113.3 billion. Contributions from gaming taxes are expected to reach MOP84 billion.

Budget execution rate at 53%

The Follow-up Committee for Public Finance Affairs of the AL yesterday reported that the fiscal reserve balance stood at MOP602.47 billion as of June 30, reflecting a 3.8% increase of MOP22 billion from the end of 2023.

Committee chairman and lawmaker Wong Kit Cheng reported that actual revenue from the budget in the first half of the year was MOP57.22 billion, with an implementation rate of 53.4%.

Expenditures totaled MOP46.32 billion, achieving an implementation rate of 43.7%. This resulted in a budget execution surplus of MOP10.9 billion for first half of the year, as revenues surpassed expenditures. 

Wong noted that there were 233 projects during this period, with 26 projects reporting a budget utilization rate of zero. The Cultural Affairs Bureau, Financial Services Bureau and University of Macau each had four projects lacking utilization, while the Public Works Bureau (DSOP) had three. Victoria Chan