Lionel Leong, Macau’s secretary for economy and finance, has said the government is financially stable and sees no need to launch more measures to control expenditure.
In a statement, Leong said the government is in no financial difficulty as the budget confirmed there are accumulated reserves of more than MOP10bn ($1.2bn).
The budget required the administration to launch stricter financial measures when gaming revenue fell to a monthly average of MOP20bn. Gaming revenue fell 35.5 per cent in August to MOP18.6bn.
With short-term financial uncertainty still a possibility due to external factors, Leong said the government would closely monitor the situation until December and consider introducing measures to tighten control of public funds only if there was no surplus generated.
Source: Asia Gaming Brief
