Gov’t reports losses of MOP6.55b from investments

The final report on the budget execution for last year was approved by the Legislative Assembly Tuesday evening.

It is notable in the report that financial investment applications made through the government accounts last year registered losses amounting to MOP6.55 billion.

The Secretary for Economy and Finance, Lei Wai Nong, said that he does not expect such a bad outcome this year nor in the upcoming year.

“Regarding the financial investments, the losses on these investments in 2022 have been MOP 6.549 billion, that is minus MOP14.94 billion than [the result obtained] in 2021. This [fact] was due to the high volatility verified in the global investment environment and also simultaneously due to the increase of the interest rates that reduced the dynamic of growing of the market. But we expect that this year and also next year our investments [earnings] can surpass the inflation rate.”

Lei also noted that the effective ordinary receipt from the government at the end of 2022, was MOP109.14 billion, that is, MOP14.53 billion more than in 2021, an increase of 15.1%.

In the same session, the Commissioner of Audit, Ho Veng On, noted that the total expenditure by the government was MOP102.1 billion, which means that the total assets in 2022 have grown by MOP68.1 billion, a figure that joins the fiscal reserves accounts balance of MOP558 billion.

Regarding the summary of the accounts related to the eight government-owned institutions, a total income of MOP10.9 billion was registered, while total expenses reached MOP23 billion. At the end of 2022 the same eight publicly owned institutions had an accumulated MOP363.5 billion in assets.