HK records 9.4 bln HKD deficit

19:42, June 30, 2010      

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Hong Kong recorded a deficit of 9.4 billion HK dollars in the April-May period, the Financial Services and the Treasury Bureau of Hong Kong announced on Wednesday.

According to the Bureau, government expenditure for the April- May period was 43.8 billion HK dollars with revenue of 34.4 billion HK dollars, resulting in the deficit. Fiscal reserves stood at 510.8 billion HK dollars as at May 31.

The deficit was mainly because some major types of revenue, including salaries and profits taxes, were mostly received towards the end of the financial year.

Government expenditure in May was 21.25 billion HK dollars with revenue of 11.98 billion HK dollars, resulting in a deficit of 9. 27 billion HK dollars. (7.785 HK dollars =1 U.S. dollar)

Source:Xinhua

(Editor:黄蓓蓓)

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