Macau total expenditure to reach record high in 2018

The Macau government is expecting total expenditure in 2018 to be more than MOP109.6 billion (US$13.6 billion), a 14.5 percent increase from the budget this year, local media reports.

According to Macau News, the Secretary for Economy and Finance Lionel Leong Vai Tac, 2018 budget bill presentation, said that the rise in budgeted expenditure for next year was mainly due to an increase in the government’s public investment plan (PIDDA).

Leong also added that the government was expecting total receipts to reach MOP119.2 next year, up 15.8 percent from this year’s budget.

Of the total receipts, MOP80.5 billion is expected to come from direct gaming taxes, 15 percent more than what was budgeted this year.

Earlier this month, Leong said he expects 2017 gaming revenue to be higher than previously forecasted, seeing “positive double-digit growth” compared to last year’s results.

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