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HK Financial Deficit Amounts to 3.68 Billion Dollars by November
The Hong Kong Special Administrative Region (SAR) government recorded a financial deficit of 28.7 billion HK dollars (US$3.68 billion) for the eight months ended November 30, 2000 for this fiscal year, according to a government press release Saturday, December 30.
Expenditure for the period April to November 2000 amounted to 143.9 billion HK dollars (US$18.45 billion) and revenue to 115.2 billion HK dollars (US$14.77 billion).
There was a surplus of 9.7 billion HK dollars (US$1.24 billion) in November.
A government spokesman said the improvement was mainly due to Profits Tax receipts during the month, and the position should further improve with the bulk of the revenue from Profits Tax and Salaries Tax to be collected in the remaining months of the financial year.
The fiscal reserves stood at 415.5 billion HK dollars (US$53.27 billion) at November 30, 2000.
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