Government and Policy

Macao to hand out cash to residents

(Xinhua)
Updated: 2011-04-21 10:51

MACAO ?-- The Macao Special Administrative Region government plans to carry out its "Wealth Sharing" scheme again this year, under which local residents will get extra cash subsidy from the government, Chief Executive Chui Sai On said on Wednesday.

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Under the scheme, each permanent and non-permanent resident will receive 3,000 patacas (about US$375) and 1,800 patacas, ?respectively, Chui said at Macao's Legislative Assembly.

The plan, which will cost the government some 1.7 billion patacas, is expected to help Macao residents better cope with rising inflation, said Chui.

Macao's inflation continued to rise this year as the Composite Consumer Price Index (CPI) in February went up by 4.7 percent from a year earlier, according to the latest official figures.

Chui emphasized that the government would do its utmost to help the residents as their livelihood is first priority of government policies.

Earlier this year, Macao finished the distribution work of the 2011 Wealth Sharing Scheme, in which each permanent and non-permanent resident received 4,000 patacas and 2,400 in cash, respectively.