The Macau government next year will increase its annual cash handout to permanent residents to 10,000 patacas (US$1,245), up from 9,000 patacas currently.
Fernando Chui Sai On, chief executive of the Macau special administrative region, announced the change in his 2019 Policy Address at the Legislative Assembly on Thursday, Radio Television Hong Kong (RTHK) reported.
Chui said the SAR’s economy continued to improve and its jobless rate remained low, adding that Macau’s public finances are sound and people’s livelihood have improved.
For the 12th consecutive year, Macau residents are to be given cash back through “Wealth Partaking Scheme.”
Permanent residents will receive 10,000 patacas in 2019, while non-permanent residents will receive 6,000 patacas next year, compared with the previous 5,400 patacas.
Non-permanent residents are defined as new immigrants and locals who study abroad, not migrant workers and foreign students.
When the scheme was first implemented in 2008, permanent residents were to receive 5,000 patacas and non-permanent residents 3,000 patacas.
Together with other incentives, including contributions to the government’s pension scheme, medical vouchers, allowances for the elderly and students and subsidies on transportation, social expenditures for the coming fiscal year will be about 18.74 billion patacas, news website HK01.com reported.
After two five-year terms in office, Chui’s time as chief executive is to come to an end in December next year.
Read: Macau’s government – a cash machine that keeps on giving