Jan-July surplus far exceeds whole year estimate

The surplus of Macau for the January-July period at MOP66.43 billion (US$8.5 billion) has already far exceeded the initial estimate by the MSAR Government, while the execution rate for the public investment plan (Portuguese acronym ‘PIDDA’) in the period remains low. The surplus for the period has already reached MOP66.43 billion, much higher than the initial official estimate of MOP63.6 billion for the whole of 2014, the latest figures released by the Financial Services Bureau showed yesterday. Of the first seven months of this year, the MSAR Government sat on a revenue of MOP95.6 billion, of which the major contributor to public income here – direct taxes from gaming – accounts for about 84 percent or MOP80.7 billion. Government expenditure in the January-July period was MOP29 billion, which is far below the budgeted expenditure at over MOP77.6 billion. The capital expenditure of the government in the period totalled MOP1.7 billion. The ‘PIDDA’ execution rate, or how much of the budget was spent relative to how much was allocated for spending, is only 6.7 percent in the period, official data noted. S.L.