Macau fiscal reserves generate 14 billion patacas since January

Macau’s fiscal reserves reached 599 billion patacas in May, an increase of nearly 4 billion patacas from the previous month. TDM Report.

Thanks to interest income, Macau’s reserves have continued to grow, accumulating more than 14 billion patacas since January this year.

At the end of May, the Macao SAR’s basic reserves amounted to MOP153 billion, while total special reserves amounted to MOP432 billion, the same as at the end of April.

[See more: Revenue from gaming taxes grew by almost 9 percent in June]

This figure is equivalent to 90% of the fiscal reserves’ all-time high of MOP664 billion in February 2021, a year after the outbreak. The government was later forced to use the reserves to cover public spending. withdraw Over 100 billion patacas Not enough plugs in its budget.

When the government announced this year’s budget, it was predicted First Surplus Since the outbreak of the epidemic, famous There will be “no need to use fiscal reserves” in 2024.

In March, Fitch Ratings describe Macau’s “large and growing” fiscal reserves are an “important and critical credit strength” in maintaining the credit strength of the Macao Special Administrative Region. AA credit ratingThe US credit rating agency also noted that Macau is “the only entity in Fitch’s global sovereign portfolio that does not have any outstanding government debt.”