44 Economy
MOP40.97 billion in the 2008 budget
to MOP44.71 billion next year. All up,
it registers an increase that translates to
a percentage rise of 9.12 points. A value
that is substantially inferior to the 32-
point growth registered last year when
compared to the previous 2007 budget.
In the document submitted to law-
makers the estimated current revenue
was about MOP41 billion, of which di-
rect taxes totalled MOP31.94 billion,
most of which was levied from the gam-
ing sector. It should be remembered that
these are always cautious estimates.
For example, the amount of direct
taxes from gaming revealed in Septem-
ber had already surpassed the estimates
of the 2008 budget. The budget predict-
ed MOP29.4 billion in revenue but in
the third quarter of this year the direct
taxes from gaming were already up to
MOP31 billion. In the latest budget for
2009, capital revenues are estimated to
reach MOP3.714 billion.
Security forces get more
Planned investments stand at
MOP10.5 billion, with most of the
spending allocated to the administra-
tion, MOP2 billion more than that budg-
eted for the current year.
The biggest slices of public expend-
iture are in education, health, social aid
and the security forces.
According to the numbers given,
health care will get MOP2.44 billion,
E
N
education MOP2.19 billion and the se-
h
I S
curity forces MOP2.1 billion.
A
I
L
In other words, an overall increase
/
Q
when compared to 2008 budget that al-
p
A
: E located to MOP1.9 billion education,
t
o
o
MOP2.2 billion to health and MOP1.6
h
p
billion to the security froces.
As for the Social Assistance Insti-
Being sociable
tute, the 2009 budget gives MOP1.28
billion—28 million more than the
present budget, while the Social Secu-
rity Fund is allocated MOP2.32 billion
All in the recently presented budget represents good
—an increase of MOP7 million.
Others making a windfall are the
news for social welfare, education, health and perhaps Industrial Development Fund with
given global instability, the security forces
MOP2.21 billion, the Macau Foundation
with MOP2.49 billion and the Institute
by Carlos Picassinos
for Municipal and Civic Affairs with
MOP1.41 billion.
S
pending plans for the next year of major economic uncertainty. Social The document should be submitted
seem to target the more deprived security, health care and education all to lawmakers for discussion by Novem-
in society, perhaps in a bid to en- get a boost. ber 20 and 21, when Francis Tam goes to
dure stability and harmony in a time Overall expenditure grows from the Legislative Assembly.
december 2008
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