Transactions carried out in Macau through the second consumer card reached about MOP2 billion (US$250.5 million) in more than two months, authorities announced today (Tuesday).
One of the measures taken by the Macau Government to combat the crisis caused by the Covid-19 pandemic was the delivery of electronic cards to residents, as part of a consumer subsidy program divided into two phases, for a total amount of MOP8,000 per card, to help local trade as well.
According to the Monetary Authority of Macau (AMCM) and the Economic Services Bureau (DSE), until Sunday, more than 22.5 million payments were made, which amounts to close to 60 per cent of the total subsidy amount for the second phase of the consumer card, which started on August 1.
More than 640,000 residents have already received the subsidy for the second phase of the consumer card, with the total number of beneficiaries already exceeding the first phase of the plan.
The food & beverage sector occupied the largest proportion of the total amount used through consumer cards in all sectors, corresponding to about 25.6 per cent of the total value of consumer card transactions, the AMCM and DSE indicated.
Retail trade and supermarkets recorded the highest transaction value, with 20.1 per cent.
The electronic consumption card was one of the first measures announced by the Government of Macau to respond to the crisis caused by the pandemic.
The first amount of MOP3,000 was allocated to more than 600,000 residents to be spent in May, June and July. In August, residents again received another MOP5,000 to spend until the end of December.
The Government has justified the measure with the objective of “boosting the economy, expanding domestic demand, mitigating the difficulties faced by companies in the exploration of business, stabilizing the job market and, at the same time, mitigating the economic pressure of residents”.