The Macau government is expected to receive over 92 billion patacas (US$11.5 billion) in taxes on gaming in 2013, or 7.4 billion patacas more than the budget for this year, the region’s secretary for the Economy and Finance said.
Francis Tam Pak Yuen announced the figures at a plenary session of the Legislative Assembly that discussed and voted on the proposal for the 2013 budget.
The budget proposal outlines revenues of 134.8 billion patacas, which is an increase of 17 percent on the budget for this year, and the gaming sector is expected to provide 68.5 percent of those revenues.
Expenditure is expected to total 82.56 billion patacas, an increase of 6.7 percent, which includes investment expenditure, which has fallen 9.7 percent to 17.9 billion patacas.
Cheques provided to residents to counteract the effects of inflation will cost the local government 4.88 billion patacas (US$610 million). (macauhub)