Macao will continue its tax concessions and Wealth Partaking Scheme next year in a bid to share the results of the region's economic development and help mitigate the effects of inflation.
The announcement comes as the city's previous public finance has laid a solid foundation for its future development.
Chui Sai On, the Chief Executive of Macao.
"As of September this year, the total value of Macau's foreign exchange reserves has reached 129 billion Macao patacas. The excess reserves are expected to reach 224 billion after the completion of clearing procedures. So, it has provided a strong financial support for Macao's future development and people's livelihood."
Permanent residents will receive 9 thousand Macao patacas in cash while non-permanent ones will get 5,400 in cash, which is the same as last year.
The Wealth Partaking Scheme is a local government cash disbursement policy to holders of Macau ID, in effect since 2008.
A report from the Macao Foundation shows local GDP has seen growth of 10 percent this year, compared with 11 percent last year.
