Home Actuality Macao’s Financial Reserve Investments with losses of MOP17.4 billion

Macao’s Financial Reserve Investments with losses of MOP17.4 billion

The financial losses with investments from the financial reserve, Pension Fund and Social Security Fund are higher than the gross gaming revenue. The losses in the first half of the year were explained by the government with “the sudden oscillations in the international market”.

In the first six months of the year, the financial reserve investments generated losses of 17.4 billion patacas.

The information was revealed yesterday by deputy Wong Kit Cheng, president of the Monitoring Committee for Public Finance Affairs, which met yesterday to analyze the Interim Report on Budget Execution for the Year 2022.

Read also: Macau economy forecast to contract by 24% in 2020, Fitch Ratings says

For the first six months of the year, losses on investments from the financial reserve, Social Security Fund and Pension Fund were MOP26.9 billion. In the same period, gross gaming revenue reached MOP26.5 billion, a difference of MOP400 million.

Read more in: Hoje Macau

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