| HK recorded $2.78b deficit in Q2 |
| Last Updated(Beijing Time):2012-09-01 14:00 |
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Hong Kong recorded a deficit of HK$21.6 billion ($2.78 billion) in the second quarter of the year, the city's Financial Services & the Treasury Bureau said Friday.
According to the figure released, government expenditure for the second quarter amounted to HK$121 billion, while revenue was HK$99.4 billion.
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.
Hong Kong's fiscal reserves stood at HK$647.5 billion at July 31. |
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