HK gov't records US$2.14 billion deficit in April to June

The Hong Kong government recorded a deficit of 16.7 billion Hong Kong dollars (2.14 billion US dollars) for the period from April to June.

According to the government's financial result which was released here Saturday, the expenditure for the period amounted to 56.4 billion Hong Kong dollars (7.23 billion US dollars) and revenue to 39.7 billion Hong Kong dollars (5.09 billion US dollars), resulting in a deficit of 16.7 billion Hong Kong dollars (2.14 billion US dollars).

The government said a deficit in the initial months of a financial year was not unusual as many types of revenue including taxes were mostly received towards the end of the year.

The fiscal reserves stood at 279.3 billion Hong Kong dollars (35.81 billion US dollars) on June 30.

Source: Xinhua