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Hong Kong deficit
September 29, 2012, Saturday
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Print Edition
Print Edition
HONG Kong's government expenditure for the April-August period amounted to HK$153.8 billion (US$19.85 billion), while revenue was HK$117.8 billion, resulting in a deficit of HK$36 billion, Hong Kong's Financial Services and the Treasury Bureau said yesterday.
The deficit was mainly because some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year. Fiscal reserves stood at HK$633.1 billion as of August 31.
The deficit was mainly because some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year. Fiscal reserves stood at HK$633.1 billion as of August 31.
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