The Chief Executive of the Macao Special Administrative Region He Yicheng issued his 2021 policy address on the 16th, mentioning that the distribution of 10,000 patacas to each permanent resident of Macao will be maintained in 2021, while non-permanent residents will receive 6,000 patacas.
This is the 14th consecutive year that the Macau SAR government has distributed money since it launched the “Cash Sharing Program” in 2008. At that time, every permanent resident of Macau was given 5,000 patacas. By 2014, the amount was increased to 9,000 patacas.
In addition, in terms of non-mandatory central provident fund personal accounts, the SAR government will issue a one-off start-up fee of 10,000 patacas to all Macao residents, medical vouchers will continue to distribute 600 patacas to each permanent resident, and pensions for the elderly will also continue to be issued 9,000 patacas. In patacas, the pension is increased to 3740 patacas per month, and the subsidy for electricity bills for residential units is 200 patacas per month.
The Chief Executive of Macau, He Yicheng, also pointed out in his policy address that the epidemic is still expected to be the biggest constraint affecting Macau’s economic development in 2021. The local economy is overly dependent on tourism and the fragility of the gaming industry, which will be more prominent under the impact of the epidemic. Macau is expected in 2021. The pace of economic recovery will be slower, most industries and small and medium-sized enterprises will still struggle to operate, and the pressure to stabilize the economy, ensure employment, and protect people’s livelihood will continue to be greater.
He Yicheng pointed out that it will promote moderate economic diversification and sustainable development, improve the legal system of the gaming industry, carry out the work deployment and preliminary preparations for the lucky gaming operation grant, supervise the gaming industry to operate in accordance with the law, continue to promote responsible gaming, and combat illegal gaming. As for the temporary economic stimulus policies and the negative aspects of the people’s livelihood policies, the problems of the SAR government’s implementation efficiency and effectiveness still need to be improved.
He Yicheng mentioned that the continued international epidemic has also had a negative impact on Macao’s restoration of economic and social order. The economic recovery will take a long time and increase the employment pressure and life pressure of residents. He reiterated that more abundant fiscal reserves are the basis for resisting external shocks and promoting economic recovery. Emphasizes that “the crisis is organic, and the crisis can turn for the better”, and appeals to the public to see opportunities and hope.