HK's deficit for 2002-03 reaches 61.7 billion HK dollars

Home>>Business

Last updated at: (Beijing Time) Saturday, July 26, 2003

HK's deficit for 2002-03 reaches 61.7 billion HK dollars

DISCUSSION

CHINESE

SEND TO FRIEND

The deficit of the Hong Kong Special Administrative Region government for the financial year ending in March was 61.7 billion Hong Kong dollars (7.91 billion US dollars), the government announced Friday.

Expenditure amounted to 239.2 billion HK dollars and revenue to177.5 billion HK dollars. On March 31, the fiscal reserves stood at 311.4 billion HK dollars. These figures are the same as the provisional ones published on April 30.

The deficit represented an improvement of 8.3 billion HK dollars over the revised estimated deficit of 70 billion HK dollars announced in the Budget in March.

Revenue was 4.1 billion HK dollars more than expected, largely as a result of additional receipts from income from investments with the Exchange Fund, profits and salaries taxes, land premium and collections from the Housing Society under the Home Starter Loan Scheme.

Expenditure was down 4.2 billion HK dollars due to lower-than-expected recurrent expenditure, capital spending and a less than anticipated take-up in a number of loan assistance schemes.

Questions?Comments? Click here

HKSAR Gov't Determined to Wipe out Budget Deficit

Who Is Boosting a Revaluation of RMB? ( 4 Messages)

Chinese President Calls for More Sino-Japanese Non-governmental Contacts ( 3 Messages)

China Striving to Become World's 2nd Largest Market ( 2 Messages)

US Military Official Confirms Death of Saddam's Two Sons ( 3 Messages)

Woman Protests with Minibus Dragged by Donkey in Xi'an ( 9 Messages)