\u00a0<\/span><\/p>\nThe educational assistance is part of Macau’s effort to diversify its workforce, and ideally, lessen its dependency on gaming in the future.<\/p>\n
Spending to Revive Economy<\/b><\/h2>\n
The Macau government says it has set aside MOP$29.2 billion (US$3.65 billion) for the stimulus programs. The one-time cash allocations to residents are expected to cost around $910 million.<\/p>\n
Macau will collect some of the money back by way of taxes. The stimulus package is designed to drive domestic spending and stabilize the economy.\u00a0<\/span><\/p>\nThere are, however, critics. Some local lawmakers believe the package was rushed, and that the e-voucher scheme won’t benefit the enclave’s impoverished population. Despite Macau being a vastly wealthy area, and having one of the highest per capita incomes in the world, there is a large segment of residents who are poor.\u00a0<\/span><\/strong><\/p>\n“There are many limitations upon the usage of the e-vouchers. The scheme favors those who are financially able, instead of those who are scraping by and cannot afford daily expenses in Macau,” opined lawmaker Agnes Lam.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The Macau government is opening up its deep pockets to provide residents with stimulus money and vouchers in an effort to jump-start the enclave’s economic recovery. The third stimulus round announced by the Chinese Special Administrative Region (SAR) is its largest. Macau officials confirmed this week that permanent residents will receive a one-time cash disbursement […]<\/p>\n","protected":false},"author":25,"featured_media":167509,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069],"tags":[],"acf":[],"yoast_head":"\n
Macau Unveils Largest Stimulus to Date, Residents to Receive $1,250<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n