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Hong Kong fiscal reserves reach 75.4 billion USD

(Xinhua)

09:02, September 01, 2011

HONG KONG, Aug. 31 (Xinhua) -- Hong Kong's Financial Services and the Treasury Bureau said Wednesday that the fiscal reserves stood at 588.3 billion HK dollars (about 75.4 billion U.S. dollars) at the end of July.

Statistics showed that government expenditure in July was 29.6 billion HK dollars, with revenue of 27.4 billion HK dollars, resulting in a deficit of 2.2 billion HK dollars.

Government expenditure for April-July this year amounted to 101. 4 billion HK dollars, with revenue of 94.3 billion HK dollars, resulting in a deficit of 7.1 billion HK dollars.

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. (1 U.S. dollars equals to 7.8 HK dollars)


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