The government of Macau has reportedly revealed that it raked in $9.11 billion from gambling taxes over the first eleven months of 2016 with the amount accounting for some 77.8% of all revenues.
According to a report from the Macau Business Daily newspaper citing official data from the Financial Services Bureau, the amount brought in from January through to the end of November was 7.4% lower year-on-year while total government revenues excluding those from autonomous bodies dropped by 8.9% during the period to $11.72 billion.
The newspaper reported that other direct taxes for the government of Macau amounted to some $1.02 billion, which was a decrease of 7.9% year-on-year, while its indirect takings declined by 10.7% to reach $425.77 million.
In addition, the Macau Business Daily reported that total capital income, which included sales of capital and financial assets alongside reimbursements not deducted from payments, for the former Portuguese enclave registered a year-on-year drop of 3.3% to $120.86 million.
The newspaper further revealed that the city’s general fiscal surplus for the eleven-month period totaled $3.71 billion, which represented a plunge of some 26.8% year-on-year although it was still nine times higher than the excess budgeted for the beginning of the year.
In terms of expenditure, the Macau Business Daily declared that the total amount had increased by 2.8% year-on-year to hit nearly $8.01 billion with current spending now accounting for 96.1% or around $7.48 billion of the total, which is a rise of 3.2%.
However, capital expenditures came in at $525.91 million, which is a decline of 1.8% year-on-year, with the Public Investment Plan allocation swelling by 9% to $475.81 million to now account for 34% of the authorized budget.
Over the eleven-month period, the newspaper finally reported that the government of Macau transferred some $1.87 billion to its social security fund, which was 4.5% down on the same period in 2015.