To Combat Inflation Macau Government Will Spend US$101 million

Mar - 13 | By: a2zMacau | no comments.

Filed under : Economy, Employment, General, Government, Social and Politics

The Macau government announced that it is making available US$ 101 million for a string of financial support measures to alleviate the impact of inflation among the territory’s most needy citizens.

Inflation in Macau hit 8.3 percent in January, the highest level recorded since 1999.

The government measures, coming into force in April, include subsidies for electricity costs and full-time workers on low wages. The anti-inflation measures also benefit people receiving welfare benefits.

All Macau households will have US$19 paid into their electricity bill accounts for 12 months from April. This power subsidy will cost the government US$40.5 million.

Low-paid workers aged 40 and above who have a monthly salary’s of US$500 and below, will get the government paying the difference if their wages drop below US$500. This move will benefit about 16,000 workers and cost the Macau authorities US$43.75 million.

Macau has an estimated population of 530,000.

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