Govt spends MOP2.2 bln on social welfare in 2013

2014/7/23

From:Macau Business

The government spent MOP2.2 billion (US$275 million) on social welfare last year, 68.3 percent more than the year before, official data show.

The Social Security Fund’s annual report says the ageing of the population, greater demand for benefits and consumer price inflation were the main difficulties the fund had to cope with last year.

Money for retirement pensions and other benefits comes out of the fund.

The fund had MOP12.7 billion in revenue, 118.6 percent more than the year before, largely because it got more money from gaming taxes.

Copyright@Macau Business