The government of Hong Kong Special Administrative Region posted a deficit of 17 billion HK dollars (2.2 billion US dollars) in the second quarter.

Spending for the April-to-June period amounted to 58.8 billion HK dollars (7.5 billion US dollars) and revenue to 41.8 billion (5.4 billion US dollars).

A deficit in the first few months of a financial year is not unusual as many types of revenue, including taxes, were mostly received towards the end of the year.

On June 30, the fiscal reserves stood at 258.3 billion HK dollars (33.1 billion US dollars).

Source: Xinhua