The fiscal reserves of the Macao Special Administrative Region (MSAR) reached a record high of 704.34 billion patacas at the end of June, according to a notice published by the Macao Monetary Authority (AMCM) in the Official Gazette (BO) yesterday.
The fiscal reserves of 704.34 billion patacas (about 0.7 trillion patacas) consisted of basic reserves of 163.60 billion patacas and extraordinary reserves of 540.73 billion patacas.
The 704.34 billion patacas represented an increase of 0.3 percent from the 702.26 billion patacas at the end of May, an increase of 5.6 percent from the 666.74 billion patacas at the end of 2025, and an increase of 14.3 percent from the 616.21 billion patacas at the end of 2024.
The fiscal reserves of 702.26 billion patacas at the end of May broke the 700-billion-pataca benchmark for the first time.
The continuous growth in the government’s fiscal reserves over recent years has not only been attributed by analysts to a budget surplus (revenue exceeding expenditure) but also to the fact that the government has been able to earn an annual positive return from investing its fiscal reserves. For instance, according to previous AMCM announcements, the government recorded an annual return of 5.2 percent, 5.3 percent, and 6.9 percent from investing its fiscal reserves in 2023, 2024, and 2025.
Macau’s quasi-central bank updates the MSAR’s fiscal reserves in the gazette on a monthly basis.
This file photo taken earlier this year shows cars driving past the headquarters of the Macau Monetary Authority (AMCM) on Guia Hill in the peninsula. – Photo: Tony Wong
