This article aims to analyse Macau’s fiscal transparency by using the International Monetary Fund’s Fiscal Transparency Code. Macau’s public fiscal reports and budgets generally meet the international standards related to coverage，comprehensiveness and orderliness. Furthermore，the reports and budgets were also published in a frequent，regular and timely manner. Risk disclosure and management，especially the release of information of capital projects，is moderate. Public fiscal transparency is generally high. However，there is still room for improvement on the coverage and comprehensiveness of fiscal reports，disclosure of budget formulation as well as risk management. Four suggestions are proposed：public enterprises should be included in the scope of the Budget Framework Law，medium-term budgetary frameworks should be introduced to make fuller use of macroeconomic forecast and previous fiscal revenue and expenditure for a scientific prediction on the scale of budget revenue and expenditure. The release of information related to fiscal risk and management，especially preliminary studies on large-scale capital projects，should also be enhanced. Big data and dissemination should also be applied to encourage public participation in budget formulation process.