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Following is the transcript (English portion) by the Financial Secretary, Mr Henry Tang, after he chaired an Economic Forum, titled "Towards a sustainable economic recovery" at the Hong Kong Convention and Exhibition Centre this (October 3) afternoon:
Reporter: (Which investment banks for issuing bonds?)
Financial Secretary: For different projects, we may invite different consultants to submit bids. When we have finalised on any one of them, it will be made known to the investment bank.
Reporter: Could you just give an update on the deficit situation as expense of the moment. Some people forecast maybe hundred billion this year. What do you feel of that?
Financial Secretary: The nature of the government revenue and expenditure is that a lot of our revenue does not come in until the second half of the year. Whatever deficit we are running, it is not entirely indicative of the final figure. I would not want to make a forecast right now as to what our projected deficit might be. However, I will be making a statement in Legco on October 22 regarding some of my philosophy on managing public finance and some more updated forecast on revenue, as well as on expenditure.
(Please also refer to the Chinese portion of the transcript.)
End/Friday, October 3, 2003
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