Macau To Offer Annual Cash Handout Despite Downturn

Macau’s Chief Executive, Ho Iat-seng, has announced another round of cash handout for both residents and non-residents.

Delivering his annual Policy Address on Monday, Ho said as in previous years, each permanent resident will receive 10,000 patacas, and non-permanent residents 6,000 patacas.

One pataca is worth around HK$0.97.

In addition, Ho said each permanent resident will receive 600 patacas’ worth of medical vouchers.

The SAR will also deposit 10,000 patacas into new pension accounts.

In April, Macau handed out 15,000 patacas to residents who met certain criteria, and 5,000 patacas’ worth of spending coupons to all residents as part of relief measures introduced in light of the coronavirus pandemic.

But Ho noted that the relief measures were one-off in nature, saying prolonging them would have a negative impact.

He also said that Macau is seeing a rather significant fiscal deficit, as the economy has been seriously affected by Covid-19.

But he said he is hopeful that the enclave’s gambling industry will slowly recover in the coming year.

The focus of the administration will be to contain the coronavirus, revive the economy, improve people’s livelihood, promote pluralism, reform and innovation, as well as to resume society’s “normal development," Ho said.