The Hong Kong government's fiscal deficit for April-July fell to 5.3 billion Hong Kong dollars (679.49 million US dollars) from 17 billion Hong Kong dollars (2.18 billion US dollars) in April-June, the government said here Tuesday.

According to the government, the expenditure in the period was 78.7 billion Hong Kong dollars (10.09 billion US dollars) and revenue was 73.4 billion Hong Kong dollars (9.41 billion US dollars).

Fiscal reserves also surged to 270.1 billion Hong Kong dollars (34.63 billion US dollars) from 258.3 billion Hong Kong dollars (33.12 billion US dollars). The revenue included proceeds from the issue of notes and bonds which totaled 20 billion Hong Kong dollars (2.56 billion US dollars) in July, it said.

Expenditure of 19.89 billion Hong Kong dollars (2.55 billion USdollars) and revenue of 31.64 billion Hong Kong dollars (4.06 billion US dollars) was recorded in July, resulting in an 11.75 billion Hong Kong dollars (1.51 billion US dollars) surplus, it said.

Source: Xinhua