Latest Breaking News On - Early 5 lower than in 2020 - Page 1 : vimarsana.com

Covid-19 has dealt a blow to Macau’s Social Security Fund (SSF) as strict travel rules in the Asian gaming hub over the last two years hammered.

Macau social security fundSocial security fundCovid 19 has dealta blow to macau amp rsquos social security fund ssf as strict travel rules in the asian gaming hub over last two years hammered casino revenues nbspHich derivesa big chunk of income from the gaming industryEported total income of around 9 78 billion patacas us 1 2 last yearEarly 5 lower than in 2020Ccording to its 2021 annual report published in september the ssf isa mandatory fund introduced by macau government 1990 provide financial support poorThe oldHe terminally illHe unemployed and the disabled employers employees have to contributea total of 90 patacas every month ssf fund amp rsquos major income sources are from its global investmentsOreign exchange from the gaming and tourism servicesIvidend and interestNd member contributionsLl of which declined last year income from foreign exchange alone plunged 62 5 to around 84 33 million patacas interest and dividend shrank 29 48 845 76 amp nbsp the macau government subsidises ssf through taxes levied on gaming industry these subsidies account for almost half fund rsquosCcording to kin sun chanN assistant professor in the government and public administration department of university macau when covid 19 hit 2020