Macau (MNA) – The Macau SAR government had earned some MOP3.3 billion from investments in the year 2016, revealed Chan Chak Mo, the chairman of the second standing committee at the Legislative Assembly said after the meeting with government representatives on Thursday.
According to Mr. Chan, some MOP3.1 billion was generated from the investment on bonds and MOP2.7 billion from savings interests. However, the committee head further disclosed that the government had lost MOP500 million in 2016 from stock investments, saying, however, “[the lost] is still within the benchmark”, Mr. Chan said.
The MSAR government had invested some MOP48 billion in stocks during 2016.
Started on the second half of 2016, Mr. Chan said the government injected 17 per cent of the city’s fiscal reserve for investment.
“[The loss] still indicates a faster growth of income than inflation rate,” remarked Mr. Chan said. “[Because the government] has earned back MOP10 billion in the first three quarters this year.”
The government also reported to the committee that they will invite a third party company to carry out studies and to recommend fund managers to the government, according to Mr. Chan. Regarding the charge of the fund managers, the committee head said the government only disclosed that the mangers would receive 0.1 to 1.5 per cent of commission.
Meanwhile, Mr. Chan cited from the government that the expense on human resources from 2015 to 2016 has increased by 7.1 per cent.
“[The government explained that,] for one, the economy in 2015 wasn’t good […] but the situation improved in 2016 so [the government] decided to hire more people for their increased workload,” Mr. Chan indicated.
For instance, the Health Bureau had spent MOP300 million more on human resources, with more doctors and nurses hired during 2016. For the security department, the government had recruited 300 more staff and the expense increased by MOP240 million year-on-year in 2016.
In addition, the increase of salary rate was another contribution of the growth of expenses in human resources.
