Macau’s budget proposal for 2011 shows surplus of US$2.76 billion

17 November 2010

Macau, China, 17 Nov – Macau’s budget proposal for 2011 outlines overall revenue of 79.6 billion patacas (US$9.5 billion, or 50.6 percent more than forecast for 2010, and a surplus of 22.14 billion patacas (US$2.76 billion).

Figures for the budget provided Tuesday when the chief executive of Macau, Fernando Chui Sai On, was presenting the Government Lines of Action for 2011 to the Legislative Assembly members, showed that current revenues are estimated at 71.08 billion patacas, with direct taxes – mainly related to the 35 percent tax applied to gross gaming and gambling revenues – totalling 62.5 billion patacas.

Capital revenues and those from autonomous bodies provide the remainder of the Macau government’s revenues for 2011.

In terms of expenditure, the executive of the Macau Special Administrative Region (MSAR) projected expenses of 52.99 billion patacas, to which area dded the expenses of autonomous bodies of 4.58 billion patacas, generating a surplus of 26.61 billion patacas.

Despite Macau’s budget, which is usually conservative in terms of revenues, outlining a surplus of 22.14 billion patacas for 2011, that figure could be exceeded, taking into consideration the surpluses posted between 2007 and 2009 – 30.3 billion patacas (2007), 31.8 billion patacas (2008) and 34.4 billion patacas (2009). (macauhub)