Government injects $5 billion into companies and funds

Macau

The government is planning to invest MOP$5 billion in public-capital companies and in CPLP/China cooperation funds. The investment is contained in the Macao SAR Budget proposal for 2019, the details of which will be voted next Monday.

This is the first draft bill after the new budget framework law, with MPs once again accusing the government of lack of transparency with regard to stakes in companies and funds.

In its analysis of the 2019 budget, the 2nd Legislative Assembly Standing Committee argues that "it is not easy" to monitor public expenditure and once again criticizes the lack of "a specific law to regulate the financial programming of public-capital companies, particularly as regards the transfer of profits and dividends to the Government."

Read more in TDM - Rádio Macau.

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