Economy

Hong Kong posts HK$9.5b of deficit in Feb

(Xinhua)
Updated: 2011-04-01 13:17

HONG KONG - The Hong Kong Special Administrative Regional Government recorded a deficit of HK$9.5 billion ($1.2 billion) in February, but posted a surplus of HK$84.3 billion in the 11 months ending on Feb 28, the Financial Services and the Treasury Bureau said Thursday in a statement.

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In the 11 months ending on Feb 28, Hong Kong government's expenditure amounted to HK$270.5 billion and revenue HK$354.8 billion, it said.

Its fiscal reserves stood at HK$604.5 billion.

The cumulative surplus will decrease in the last month of the fiscal year as the majority portion of income from key revenue sources, like profits and salaries taxes, and investment income, have already been received, it added.