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The Government today (August 31) announced its financial results for the four months ended July 31, 2007.
Expenditure for the period April to July, 2007, amounted to $74.1 billion and revenue $78.9 billion, resulting in a surplus of $4.8 billion.
A government spokesman said that the surplus of $4.8 billion for the period ended July 31, 2007, was mainly due to receipts of a total of $30.5 billion land premium in these four months. The land premium was mainly from sales by public auction and private treaty grants.
The fiscal reserves stood at $374.1 billion as at July 31, 2007.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT
Month ended Four months ended
July 31, 2007 July 31, 2007
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HK$ million HK$ million
Revenue 20,061.1 78,913.7
Expenditure (20,019.9) (74,120.2)
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Surplus 41.2 4,793.5
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Financing
Domestic
Banking Sector (Note 1) 24.5 (7,290.3)
Non-Banking Sector (65.7) 2,496.8
External - -
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Total (41.2) (4,793.5)
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Government Debts as at July 31, 2007 (Note 2)
HK$20,621.9 million
Debts Guaranteed by Government as at July 31, 2007 (Note 3)
HK$4,756.1 million
TABLE 2. FISCAL RESERVES
Month ended Four months ended
July 31, 2007 July 31, 2007
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HK$ million HK$ million
Fiscal Reserves at start
of period (Note 4) 374,016.5 369,264.2
Add: Consolidated Surplus 41.2 4,793.5
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Fiscal Reserves at
end of period 374,057.7 374,057.7
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Notes:
1. Includes transactions with the Exchange Fund and resident banks.
2. The total government debts of $20,621.9 million as at July 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 $17,480.4 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.
4. The fiscal reserves for the four months ended July 31, 2007, have taken into account adjustments made to the annual accounts for the year 2006-07.
Ends/Friday, August 31, 2007
Issued at HKT 16:15
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