All departments will implement retrenchment measures to control public expenditure starting from today, according to the Chief Executive’s order. But this stricter financial measure will not affect social welfare, the wealth partaking scheme and the Investment and Development Expenditure Scheme. The stable financial situation and sound financial system enabled the Government to cope with any unexpected economic fluctuation. Gaming revenue in August is 18.62 billion patacas, making the gross amount to 158.88 billion patacas in the first eight months of 2015. This amount is lower than the government’s budget submitted to the Legislative Assembly in March. As stipulated, Government would need to introduce stricter financial measures if gaming revenue falls below 20 billion patacas monthly. Government rolled out a plan involving 1.4 billion patacas as to reduce government spending. Measures include freezing five per cent of budgeted expenditure particularly in the purchase of daily supplies, and 10 per cent of budgeted investment plan in all government departments; and requiring particular departments to freeze five per cent of budget on goods and services purchased from a third party, and 10 per cent of estimated expenses for investment. Autonomous bodies which asked for financial subsidy from the central budget in the fiscal year 2015 are now required to return part of the subsidy if there is surplus. In addition, all government departments were asked to spend less on duty visit, non-essential refurbishment and research project, promotion, gathering and souvenir.
