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The Government announced today (May 29) its financial results for April 2009, the first month of the current financial year.
Expenditure for the first month amounted to $21.5 billion and revenue $18.3 billion, resulting in a deficit of $3.2 billion.
A government spokesman said that the deficit for the period was mainly because some major types of revenue including salaries and profits taxes were mostly received towards the end of a financial year.
The fiscal reserves stood at $491.2 billion as at April 30, 2009.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT
Month ended
April 30, 2009
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HK$ million
Revenue 18,286.5
Expenditure (21,486.9)
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Deficit (3,200.4)
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Financing
Domestic
Banking Sector (Note 1) 2,563.2
Non-Banking Sector 637.2
External -
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Total 3,200.4
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Government Debts as at April 30, 2009 (Note 2)
HK$16,620.6 million
Debts Guaranteed by Government as at April 30, 2009 (Note 3)
HK$10,623.5 million
TABLE 2. FISCAL RESERVES
Month ended
April 30, 2009
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HK$ million
Fiscal Reserves at 494,364.3
start of period
Consolidated Deficit (3,200.4)
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Fiscal Reserves at 491,163.9
end of period --------------
Notes :
1. Includes transactions with the Exchange Fund and resident banks.
2. The total Government debts of $16,620.6 million as at April 30, 2009 comprise :
(i) Toll Revenue Bond of $1,932.4 million to be repaid to Hong Kong Link 2004 Limited by the net toll revenue receivable of government tolled tunnels and bridges. Of the outstanding Toll Revenue Bond, $0.8 billion will mature in May 2009 and the rest by May 2016 but may be fully repaid before then; and
(ii) Institutional notes of $14,688.2 million (including US$1.25 billion denominated in United States dollars). Of the outstanding amount, $3,500 million will mature in July 2009 and the rest within the period August 2014 to July 2019.
3. Includes guarantees provided under the Special Finance Scheme for Small and Medium Enterprises launched in 1998, the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the Film Guarantee Fund and commercial loan of the Ocean Park Corporation.
Ends/Friday, May 29, 2009
Issued at HKT 16:32
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