The government announced that a deficit of HK76 billion was recorded in the first five months of this fiscal year.
During the period form April to August, government recorded expenditure amounted to HK$252.7 billion and revenue of HK$176.7 billion.
A spokesperson for government explained that the deficit recorded was due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.
The fiscal reserves stood at HK$851.8 billion as at August 31.
A spokesperson for government explained that the deficit recorded was due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.
The fiscal reserves stood at HK$851.8 billion as at August 31.