Economy secretary floats govt spending cut balloon

2015/7/27

From:Macau Business

Secretary of the Economy and Finance Lionel Leong Vai Tac has said the government may begin to cut spending next month because of the slump in gaming.

“We expect this month’s gaming revenue to be lower than MOP18 billion [about US$2.25 billion], meaning gaming revenue may not meet the target of MOP18.35 billion,” Mr Leong said at the weekend.

“It will be necessary for us to take austerity measures if gaming revenue does not reach MOP18.35 billion.”

Copyright@Macau Business