Govt with more than MOP122 billion in the bank

Macau registered a budget surplus of MOP26.6 billion in the first half of 2010, with direct taxes from gaming increasing 63 percent year-on-year. The surplus represents a year-on-year growth of 116.8 percent. Currently, the budget surpluses accumulated by the Macau government since 2002 total more than MOP122 billion – enough to cover the government’s budget for four years. Direct taxes from gaming in the first half of 2010 totalled MOP30 billion, representing 85 percent of the public finance revenue between January and June, provisional data from the Finance Services Bureau shows. In the first half of 2010, the government’s total revenue rose 39.1 percent year-on-year to MOP35.6 billion. Meanwhile, the government’s total expenditure dropped 33 percent, to MOP8.9 billion.