According to a statement published in the Official Gazette by the Monetary Authority of Macau (AMCM), the reserve is at its highest level since June 2021, when it stood at MOP 656.8 billion (USD 81.5 billion).
Even so, it remains below the all-time record of MOP 663.6 billion (USD 82.4 billion), set at the end of February 2021, despite the territory being in the midst of the Covid-19 pandemic.
The reserve started 2025 on a high, with asset values rising by MOP 37.0 billion (USD 4.6 billion) in the first eight months. In August alone, the reserve gained MOP 3.05 billion (USD 0.38 billion).
Official data show it is the best start to a year since the first eight months of 2018, when the reserve appreciated by MOP 63.4 billion (USD 7.9 billion). According to the AMCM, 2024 was the reserve’s best year since the pandemic, with gains of MOP 35.7 billion (USD 4.4 billion).
This was the largest annual increase since 2019, when the reserve rose by MOP 70.6 billion (USD 8.8 billion). At the end of August this year, the value of the extraordinary reserve was MOP 456.5 billion (USD 56.6 billion), while the basic reserve — equivalent to 150 per cent of Macau’s public budget — stood at MOP 167.3 billion (USD 20.8 billion).
The territory’s initial 2025 budget envisaged a 7 per cent increase in total expenditure, to MOP 109.4 billion (USD 13.6 billion). However, in July the Legislative Assembly, Macau’s parliament, approved a government proposal for a new budget that includes an additional MOP 2.86 billion (USD 0.35 billion) in spending.
Subcontracted investments account for the largest share of Macau’s financial reserve, at MOP 277.0 billion (USD 34.4 billion). The reserve also includes deposits and current accounts worth MOP 258.5 billion (USD 32.1 billion), and debt securities totalling MOP 114.8 billion (USD 14.2 billion).
In 2024, investments generated almost MOP 31.0 billion (USD 3.8 billion) for the financial reserve, corresponding to a rate of return of 5.3 per cent, the AMCM said at the end of February.
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