The government’s total current revenue fell 61.9 per cent year-on-year to MOP 28.53 billion (US$3.57 billion) in the first seven months of this year, the Financial Services Bureau (DSF) announced on Wednesday.
The government’s income from gaming taxes dropped 66.9 per cent to MOP 22.19 billion. Gaming tax payments accounted for 77.8 per cent of the government’s total current revenue between January and July.
Total capital revenue rose 1,901 per cent from MOP 2.23 billion in the first seven months of last year to MOP 44.64 billion in the same period of this year. Total capital revenue accounted for 61.0 per cent of the government’s total revenue of MOP 73.17 billion in the first seven months of this year.
Total expenditure rose 21.9 per cent to MOP 50.53 billion, resulting in a surplus of MOP 22.64 billion, down by 36.6 per cent year-on-year.
Meanwhile, the Macao Monetary Authority (AMCM) said in a statement published in the Official Gazette (BO) on Wednesday that the financial reserves of the Macao Special Administrative Region (MSAR) amounted to MOP 597.8 billion at the end of June.
Macao’s public finances have been hard hit by the economic impact of the COVID-19 pandemic since early this year.