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The Government announced today (July 31) its financial results for the three months ended June 30, 2007.
Expenditure for the period April to June 2007 amounted to $54.1 billion and revenue $58.9 billion, resulting in a surplus of $4.8 billion.
A government spokesman said that the surplus of $4.8 billion for the period ended June 30, 2007 was mainly due to receipts of a total of $22 billion land premium in these three months. The land premium was mainly from sales by public auction and private treaty grants.
The fiscal reserves stood at $374 billion as at June 30, 2007.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT
Month ended Three months ended
June 30, 2007 June 30, 2007
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HK$ million HK$ million
Revenue 16,953.4 58,852.6
Expenditure (17,189.7) (54,100.3)
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Surplus/(Deficit) (236.3) 4,752.3
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Financing
Domestic
Banking Sector(Note 1) (343.7) (7,314.9)
Non-Banking Sector 580.0 2,562.6
External - -
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Total 236.3 (4,752.3)
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Government Debts as at June 30, 2007 (Note 2)
HK$20,614.0 million
Debts Guaranteed by Government as at June 30, 2007 (Note 3)
HK$4,875.6 million
Notes:
1. Includes transactions with the Exchange Fund and resident banks.
2. The total government debts of $20,614.0 million as at June 30, 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 $17,472.5 million (including US$1.25 billion denominated in United States dollars). The maturity dates of these bonds and notes fall within the period July 2008 to July 2019.
3. Includes guarantees provided under the Special Finance Scheme for Small and Medium Enterprises, the SME Loan Guarantee Scheme, the Film Guarantee Fund and the Loan Guarantee Scheme for Severe Acute Respiratory Syndrome Impacted Industries.
TABLE 2. FISCAL RESERVES
Month ended Three months ended
June 30, 2007 June 30, 2007
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HK$ million HK$ million
Fiscal Reserves at
start of period 374,240.9 369,252.3
Add: Consolidated
Surplus/(Deficit) (236.3) 4,752.3
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Fiscal Reserves at
end of period 374,004.6 374,004.6
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Ends/Tuesday, July 31, 2007
Issued at HKT 16:18
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