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The Government announced today (March 31) its financial results for the eleven months ended February 29, 2008.
Expenditure for the period April 2007 to February 2008 amounted to $211.1 billion and revenue $334.6 billion, resulting in a surplus of $123.5 billion.
The fiscal reserves stood at $492.7 billion as at February 29, 2008.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT
Month ended Eleven months ended
February 29, 2008 February 29, 2008
HK$ million HK$ million
Revenue 19,802.6 334,576.9
Expenditure (18,956.4) (211,113.6)
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Surplus 846.2 123,463.3
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Financing
Domestic
Banking Sector (Note 1) (764.9) (124,427.3)
Non-Banking Sector (81.3) 964.0
External - -
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Total (846.2) (123,463.3)
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Government Debts as at February 29, 2008 (Note 2)
HK$20,061.6 million
Debts Guaranteed by Government
as at February 29, 2008 (Note 3)
HK$4,182.5 million
TABLE 2. FISCAL RESERVES
Month ended Eleven months ended
February 29, 2008 February 29, 2008
HK$ million HK$ million
Fiscal Reserves
at start of period 491,881.3 369,264.2
Add : Consolidated
Surplus 846.2 123,463.3
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Fiscal Reserves
at end of period 492,727.5 492,727.5
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Notes :
1. Includes transactions with the Exchange Fund and resident banks.
2. The total government debts of $20,061.6 million as at February 29, 2008 comprise :
(i) Toll Revenue Bond of $2,637.6 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 $17,424.0 million (including US$1.25 billion denominated in United States dollars). Of the outstanding amount, the retail bonds of $2,700 million will mature in July 2008 and the institutional notes totalling $14,724.0 million will mature within the period July 2009 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.
Ends/Monday, March 31, 2008
Issued at HKT 16:15
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