Macau: Govt to spend US$ 100 million to cushion most vulnerable from inflation

12 March 2008

Macau, China, 12 March – The Macau government announced on Tuesday that it is making available 814 million patacas (US$ 101 million) for a string of financial support measures to alleviate the impact of inflation among the territory’s most needy citizens.

Inflation in Macau hit 8.3 percent in January, the highest level recorded since 1999.

The government measures, coming into force in April, include subsidies for electricity costs and full-time workers on low wages. The anti-inflation measures also benefit people receiving welfare benefits.

All Macau households will have 150 patacas paid into their electricity bill accounts for 12 months from April. This power subsidy will cost the government 324 million patacas.

Low-paid workers aged 40 and above will receive at least 4,000 patacas monthly, with the government paying the difference if wages drop below 4,000 patacas. This move will benefit about 16,000 workers and cost the Macau authorities 350 million patacas.

Macau has an estimated population of 530,000. (macauhub)