Local administration surplus increases

Between January and September, Macau’s administration spent about 34 percent of its overall collected revenue, reaching a MOP79,295,8 million surplus, according to data on budget execution referring to this year’s first three quarters.
Data released on the Financial Services Bureau website shows that between January and September, the administration recorded an overall revenue of MOP120,109.7 million, six percent more than in the first nine months of 2013 and representing 85 percent of what had been forecast for 2014.
Current revenue, reaching MOP119,575.6 million, recorded an increase of 9 percent, and its execution rate reached 85.3 percent this year.
Direct taxes are amongst the Macau government’s main sources of revenue, amounting to MOP104,780.7 million, representing an 8.8 percent increase year-
on-year. Direct taxes from gaming amounted to MOP101,132.3 million, representing 35 percent of the operator’s gross revenue, with an execution of 85.8 percent and representing over 80 percent of the administration’s global revenue.
Revenue from gaming tax does not exactly reflect the gross gaming revenue progress, since they’re paid a month after to which they refer to.
Regarding expenditure, Macau’s administration presented an overall record of MOP40,813.8 million, representing a 14.3 percent increase year-on-year, with an execution of 52.6 percent of what had been forecast for 2014.
Current expenditure reached MOP38,395.8 million, recording an increase of 16.4 percent and an execution of 62.2 percent of what had been forecast.
Investments made on the Public Investment Plan (PIDDA) have decreased, reaching a 19 percent decline from a year earlier, with the government executing only 11.3 percent (with MOP1.607,8 expenditure).
Macau’s administration surplus is 2.2 percent more than in the first nine months of 2013. Lusa