The Macao government will prioritize the city’s employees and enterprises in distributing its MOP$10-billion ($1.25 billion) subsidy package announced earlier to cushion affected sectors amid COVID-19 pandemic.
It had also dished out a first round of MOP$27 billion in reliefs in mid-February to bail out its battered economy through tax recessions and cash incentives.
Every Macao resident, whether permanent or not, will receive MOP$5,000 worth of e-vouchers to be spent in the city
At a press conference, Secretary for the Economy and Finance Lei Wai-nong said the government would subsidize eligible employees with a maximum payment of MOP$15,000 to cover their salaries. The MOP$39 billion package is expected to benefit 260,000 employees.
Eligible small and medium-sized enterprises, which account for 90 percent of companies in Macao, can apply for a subsidy ranging from MOP$15,000 to MOP$200,000.
The subsidies will be refunded on a percentage basis if these enterprises lay off employees “without proper reasons” in the following six months.
Self-employed vendors and drivers can get one-time subsides up to MOP$10,000. Unemployed residents can also get about MOP$6,600 if they choose to attend occupational training courses provided by the government.
Moreover, every Macao resident, whether permanent or not, will receive MOP$5,000 worth of e-vouchers to be spent in the city. These vouchers will be issued between August and December. They are expected to cost another MOP$3.6 billion in the government spending, in addition to the MOP$10 billion.
The total cost of subsidies is equivalent to 12 percent of the city’s GDP in 2019.
Also on Wednesday, a 32-year-old local man was confirmed to have contracted the coronavirus, bringing Macao’s total number of cases to 45. He developed respiratory symptoms, including coughing and a fever, as early as March 20. This man had returned from Cambodia on Tuesday.
