Gov’t surplus four times 2017 budget, but PIDDA budget only 12.8 pct used by May

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The current government surplus saw a 44.7 per cent year-on-year increase in the first five months of the year, reaching MOP23.79 billion and amounting to 427 per cent the budgeted surplus for the whole year, according to the most recent data published by the Financial Services Bureau.
Taxes from gaming saw a 12.4 per cent increase, to MOP37.12 billion, while indirect taxes were up by 51 per cent, year-on-year, to MOP2.03 billion.
The MSAR’s current revenue also rose by 11.9 per cent year-on-year during the five-month period, to MOP44.78 billion. However, overall expenditure was down by 11 per cent year-on-year. Capital expenditure on the other hand, saw a 263.7 per cent year-on-year increase, and the territory’s PIDDA investment plan going up 88.4 per cent year-on-year, although showing an execution rate of just 12.8 per cent, whereas total expenditure was only 24.6 per cent.
Capital revenue was down by 39.5 per cent year-on-year, with the sale of capital assets dropping 61 per cent during the period and seeing only a 3.7 per cent execution rate.