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HK Govt Tracks $100.2B Deficit for Current FY, $734.6B Fiscal Reserves as of End-Mar
Recommend 4 Positive 2 Negative 13 |
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The Government announced today its provisional financial results for the year ended March 31, 2024. Expenditure for the year ended March 31, 2024, amounted to HK$721.3 billion and revenue HK$549.4 billion, resulting in a deficit of HK$100.2 billion after taking into account the proceeds of HK$72.5 billion received from issuance of green bonds and repayment of principal of HK$0.8 billion under the Government Green Bond Programme (Green Bond). Expenditure and revenue for the year recorded a variance of 5.2% (HK$39.7 billion) lower and 14.5% (HK$93 billion) lower than the original estimate respectively. The consolidated deficit for the year was HK$1.4 billion lower than the revised estimate of HK$101.6 billion deficit. Revenue was HK$5.2 billion (0.9%) lower than expected, mainly attributable to investment income (HK$2 billion lower) and duties (HK$1.6 billion lower). Expenditure was HK$6.6 billion (0.9%) lower than forecast for the revised estimate mainly due to lower-than-expected requirements. The fiscal reserves stood at HK$734.6 billion as at March 31, 2024. AAStocks Financial News |
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