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The Government announced today (June 29) its financial results for the two months ended May 31, 2007.
Expenditure for the period April to May 2007 amounted to $36.9 billion and revenue $41.9 billion, resulting in a surplus of $5 billion.
A government spokesman said that the surplus of $5 billion for the period ended May 31, 2007 was mainly due to receipts of a total of $15.7 billion land premium in these two months. The land premium was mainly from private treaty grants and sales by public auction.
The fiscal reserves stood at $374.2 billion as at May 31, 2007.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT
Month ended Two months ended
May 31, 2007 May 31, 2007
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HK$ million HK$ million
Revenue 17,689.2 41,899.2
Expenditure (19,277.6) (36,910.6)
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Surplus/(Deficit) (1,588.4) 4,988.6
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Financing
Domestic
Banking Sector(Note 1) (30.1) (6,971.2)
Non-Banking Sector 1,618.5 1,982.6
External - -
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Total 1,588.4 (4,988.6)
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Government Debts as at May 31, 2007 (Note 2)
HK$20,601.2 million
Debts Guaranteed by Government as at May 31, 2007 (Note 3)
HK$4,901.5 million
Notes:
1. Includes transactions with the Exchange Fund and resident banks.
2. The total government debts of $20,601.2 million as at May 31, 2007 comprise:
(i) Toll Revenue Bond of $3,141.5 million to be repaid to Hong Kong Link 2004 Limited by the net toll revenue receivable of government tolled tunnels and bridges. The outstanding Toll Revenue Bond will mature by May 2016 but may be fully repaid before then; and
(ii) Retail bonds and institutional notes totalling $17,459.7 million (including US$1.25 billion denominated in United States dollars). The maturity dates of these bonds and notes fall within the period July 2008 to July 2019.
3. Includes guarantees provided under the Special Finance Scheme for Small and Medium Enterprises, the Self-employment Business Start-up Assistance Scheme, the SME Loan Guarantee Scheme, the Film Guarantee Fund and the Loan Guarantee Scheme for Severe Acute Respiratory Syndrome Impacted Industries.
TABLE 2. FISCAL RESERVES
Month ended Two months ended
May 31, 2007 May 31, 2007
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HK$ million HK$ million
Fiscal Reserves at
start of period 375,829.3 369,252.3
Add: Consolidated
Surplus/(Deficit) (1,588.4) 4,988.6
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Fiscal Reserves
at end of period 374,240.9 374,240.9
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Ends/Friday, June 29, 2007
Issued at HKT 16:15
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