RAJ REPORT

Macau achieves a surplus of us $12.14 BILLION thanks to gambling ———–Will Aquis solve the Queensland Government $7.7 BILLION deficit budget problem———-Dagong believes Macau will continue to accumulate surpluses and remain free of debt, thus ensuring the territory’s strong fiscal strength in the future.

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The territory’s economy has grown by 10.5 percent year-on-year in real terms during the first three quarters of 2013, official data show.
Driven by fast economic growth, Macau has achieved sustained large surpluses, Dagong said.
The government’s budget surplus reached 96.96 billion patacas (US$12.14 billion) in the first 11 months of 2013, rising by 27.5 percent from a year earlier, official data show.
The surplus will be added to the fiscal reserve, established in February last year. The reserve held 168.07 billion patacas in October, official data show.
The fiscal reserve accounted for about 63.4 percent of Macau’s gross domestic product – wealth creation –, according to Dagong.
The city’s “abundant fiscal and foreign exchange reserves are still adequate to underpin the government’s solvency,” the agency wrote.
Dagong believes Macau will continue to accumulate surpluses and remain free of debt, thus ensuring the territory’s strong fiscal strength in the future.
The city’s rating remained below neighbouring Hong Kong, which reached the highest value, AAA, with a stable outlook.

 

 

 

 

 

Gaming addiction makes economy ‘a bit fragile’: Dagong | Macau Business Daily.

 

 

A report on Queensland’s finances shows the state remains $7.7 billion in the red, despite the Newman government’s harsh cost-cutting measures.

The 2012-13 report on the state’s finances, tabled in Parliament on Wednesday, shows the budget bottom line was almost $1 billion better than expected. The fiscal deficit was estimated to be $8.6 billion last financial year.

But a budget deficit of $7.7 billion remains.

The report shows the state government has slowed cost increases, with employee expenses $279 million less than what was forecast in the 2013-14 budget.

Read more: http://www.brisbanetimes.com.au/queensland/queensland-still-77bn-in-deficit-despite-1bn-saving-20131113-2xflp.html#ixzz2owNziQSS

 

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