The government announced today (30th) that the financial situation for the first eight months of the fiscal year ended November this year recorded a deficit of HK$270.3 billion.
The SAR government recorded a deficit of HK$270.3 billion in the first eight months of this fiscal year (data picture)
The government posted a surplus of HK$5.4 billion in November, out of an overall expenditure of HK$527.2 billion and revenue of HK$236.9 billion for the first eight months of the fiscal year.
After factoring in HK$20 billion in revenue from green bonds issued under the government's green bond programme, the financial position for the first eight months of the financial year was in a deficit of HK$270.3 billion.
A government spokesman said that the deficit as of November was mainly due to the fact that major revenues such as salaries tax and profits tax are mostly collected in the latter part of the financial year.
As of the end of November, fiscal reserves stood at HK$686.8 billion.
Budget | Chen Maobo communicated with middle school students to understand his views on the future development of Hong Kong. Public consultation on the next year's budget. Chen Maobo: This year's economy is expected to shrink by 3.2%. The deficit is as high as 100 billion yuan, and we must abide by the principle of prudent financial management. Chen Maobo: This year's fiscal deficit is "100 billion yuan is inevitable." But there is no need to be pessimistic about the economic outlook
