The government plans to increase the ratio for its financial reserves to be invested by fund managers to 20 percent by the end of this year, with the aim of improving its investment performance, Mak Soi Kun, who heads the legislature’s Follow-up Committee for Public Finance Affairs, quoted government officials as saying yesterday.
Mak briefed reporters after a closed-door meeting of the committee. The committee yesterday asked officials, including Secretary for Economy and Finance Lionel Leong Vai Tac, to brief the committee on the investment performance of the government’s financial reserves last year.The Macau Monetary Authority (AMCM) said in a statement in March that until the end of last year the government had financial reserves totalling 438.7 billion patacas, which consisted of “basic” reserves of 132.8 billion patacas and “extraordinary” reserves of 305.9 billion patacas.
Legislative Assembly (AL) Follow-up Committee for Public Finance Affairs President Mak Soi Kun addresses yesterday’s press briefing after a closed-door meeting with government officials about last year’s investment performance of the government’s financial reserves. Photo: Tony Wong
