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Sam Hou Fai: MO Betting Duty Rev. Fails to Meet Targets, Affecting Fiscal Base; Community Has Consensus to Enhance Wealth Partaking Scheme
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The continuation of the tariff war between China and the US will definitely affect the spending power of tourists visiting Macao, Sam Hou Fai, Chief Executive of Macao, delivered his first Policy Address yesterday (14th) saying. If RMB is lowered in response to the situation and the purchasing power of Chinese tourists decreases, the impact on Macau's tourism and gaming industry will be significant. The current betting duty revenue of Macao has not reached the target, which will affect the financial base of the city, Sam noted. Therefore, the Budget needs to be adjusted. Macau's wealth partaking scheme has been implemented 17 times since 2008, involving a total of MOP92.1 billion, Sam added. The community believed that the scheme should continue to be implemented in the future, but there is also a consensus that the conditions of declaration should be optimized, so as to ensure that the resources can really help those in need. AAStocks Financial News |
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