| HK records 36-bln-HKD deficit from April to August |
| Last Updated(Beijing Time):2012-09-28 19:57 |
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Hong Kong's government expenditure for the April-August period amounted to 153.8 billion HK dollars (19.85 billion U.S. dollars), while revenue was 117.8 billion HK dollars, resulting in a deficit of 36 billion HK dollars, Hong Kong's Financial Services and the Treasury Bureau said Friday.
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.
Fiscal reserves stood at 633.1 billion HK dollars at Aug. 31, 2012. (1 U.S. dollar is equivalent to 7.75 HK dollars) |
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