Macau 2007 Budget Approved

Written on November 23, 2006 by a2zMacau

So after a fantastic but hectic week in Macau, its back to normal here. The 2007 budget is 20% than last year thanks to the increased revenues in gaming taxes. As usual it is always very easy to see who the biggest winners are. Of course the population in Macau should see improved living standards in the years to come.

Courtesy MacauHub | The members of the Macau Legislative Assembly Monday unanimously approved the budget proposal for 2007, which puts forward revenues of 30.892 billion patacas, a year on year rise of 22.05 percent, officials said.

The proposal forecasts 21.821 billion patacas in direct taxes, 10 billion of which from the 35 percent tax applied to gross revenues of gaming and gambling companies.

This amount represents a 20 percent increase in relation to the 16.5 billion patacas initially projected for 2006 and, later corrected to 17.2 billion patacas.

In terms of expenditure, the Macau government has earmarked the largest amounts for Healthcare and Education, which will receive 1.95 billion and 1.86 billion patacas, respectively.

By 2009, the head of the government, Edmund Ho, wants to provide fee schooling at all non-university levels, thus concluding a project begun during Portugal’s administration of the territory.

The government’s investment plan totals 7.3 billion patacas to be spent on several large projects such as the construction of two tunnels between Macau and Taipa island, the expansion of the Portas do Cerco border and the beginning of expansion of Macau’s airport.

Technorati Tags: macau