HK 7-month fiscal deficit at 4.4 bln HK dollars

20:23, November 30, 2010      

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The Hong Kong Special Administrative Region government recorded a deficit of 4.4 billion HK dollars for the six-month period ending Oct. 31, according to a release by the government on Tuesday.

The expenditure for the period April to October amounted to 172. 7 billion HK dollars and revenue 168.3 billion HK dollars.

A government spokesman said that the deficit for the period was mainly because some major types of revenue, including salaries and profits taxes, were mostly received towards the end of the financial year.

At Oct. 31, the fiscal reserves stood at 515.9 billion HK dollars. (7.766 HK dollars = 1 U.S. dollar)

Source: Xinhua

(Editor:李牧(实习))

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