Macau (MNA) – The Macau SAR Government is expecting an income of MOP80.5 billion to be generated from direct gaming taxes for next fiscal year, claimed the Secretary for Economy and Finance, Lionel Leong Vai Tac, on Monday during the plenary discussion of the budget plan for the fiscal year 2018 at the Legislative Assembly (AL).
Prior to the unanimous aproval of the first reading of the fiscal budget plan, the Secretary said the government foresees the gaming revenue would be increased by MOP10.5 billion, compared to MOP70 billion in 2017.
The total revenue to be generated by the government in 2018 is expected to hit MOP119.17 billion, up 15.8 per cent year-on-year.
In regard to a 14.5 per cent increase of government expenses in 2018 when compared to this year’s, Secretary Leong explained that the growth is due to expenses on investment and development by the government (MOP21.1 billion) as well as the increased budget for the government’s investment company (MOP5.7 billion).
Regarding the budget for PIDDA (investment in public infrastructure projects in the city such as public housing projects), the government sets the budget at MOP21.1billion, up 38.6 per cent year-on-year.
The construction project of the artificial island connecting the Hong Kong-Zhuhai-Macau Bridge has the highest expense budget, amounting to MOP5.6 billion.
[Edited by Sheyla Zandonai]
