The Legislative Assembly of Macau on Wednesday aproved the draft Budget Bill for 2018, which includes expenditure of 109.61 billion patacas (US$13.7 billion), an increase of 14.5% year-on-year.
The bill proposed by the government outlines revenues of 119.17 billion patacas, an increase of 15.8%, generating a budget surplus of 9.56 billion patacas (US$1.2 billion).
The proposal had been approved in general last November, after which it was forwarded to the 2nd Standing Committee, before returning to plenary for final approval article by article.
In the document presented to the members of parliament, the government expects taxes on gambling to total 80.5 billion patacas (US$10 billion), 10.5 billion patacas more than budgeted for this year, representing a year-on-year increase of 15%.
In addition to some salary increases for civil servants, the bill includes a number of tax reductions and exemptions for 2018. (macauhub)