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The Government announced today (May 30) its financial results for April 2008, the first month of the current financial year.
Expenditure for the first month amounted to $20.4 billion and revenue $22.2 billion, resulting in a surplus of $1.8 billion.
A government spokesman said that the surplus of $1.8 billion for April was mainly due to collection of salaries tax, profits tax and stamp duties.
The fiscal reserves stood at $494.8 billion as at April 30, 2008.
More detailed figures are shown in Tables 1 and 2.
Table 1. Consolidated Account
Month ended
April 30, 2008
HK$ million
Revenue 22,196.9
Expenditure (20,359.9)
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Surplus 1,837.0
---------
Financing
Domestic
Banking Sector (Note 1) (2,372.1)
Non-Banking Sector 535.1
External -
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Total (1,837.0)
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Government Debts as at April 30, 2008
(Note 2)
HK$20,077.7 million
Debts Guaranteed by Government as at April 30, 2008
(Note 3)
HK$4,044.8 million
Table 2. Fiscal Reserves
Month ended
April 30, 2008
HK$ million
Fiscal Reserves at 492,914.5
start of period
Add : Consolidated Surplus 1,837.0
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Fiscal Reserves at 494,751.5
end of period ----------
Notes :
1. Includes transactions with the Exchange Fund and resident banks.
2. The total Government debts of $20,077.7 million as at April 30, 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 $17,440.1 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 $14,740.1 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/Friday, May 30, 2008
Issued at HKT 16:15
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