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The Government announced today (June 28) its financial results for the two months ending May 31, 2013.
Expenditure for the period April to May 2013 amounted to HK$56.8 billion and revenue HK$62.3 billion, resulting in a surplus of HK$5.5 billion.
A government spokesperson said that the surplus for the period was mainly due to the receipt of land premium.
The fiscal reserves stood at HK$739.4 billion as at May 31, 2013.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
Month ended Two months ended
May 31, 2013 May 31, 2013
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HK$ million HK$ million
Revenue 18,798.8 62,368.3
Expenditure (26,622.0) (56,834.4)
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(Deficit)/Surplus (7,823.2) 5,533.9
------------ ----------------
Financing
Domestic
Banking Sector 7,477.7 (6,619.6)
(Note 2)
Non-Banking Sector 345.5 1,085.7
External - -
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Total 7,823.2 (5,533.9)
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Government Debts as at May 31, 2013 (Note 3)
HK$11,204.6 million
Debts Guaranteed by Government as at May 31, 2013 (Note 4)
HK$80,259.3 million
TABLE 2. FISCAL RESERVES
Month ended Two months ended
May 31, 2013 May 31, 2013
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HK$ million HK$ million
Fiscal Reserves 747,271.2 733,914.1
at start of period
Consolidated (Deficit)/ (7,823.2) 5,533.9
Surplus ------------ ----------------
Fiscal Reserves 739,448.0 739,448.0
at end of period
------------ ----------------
Notes:
1. This Account consolidates the General Revenue Account and the following eight funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at May 31, 2013 is HK$78,174 million.
2. Includes transactions with the Exchange Fund and resident banks.
3. These are the outstanding institutional notes (including US$1.25 billion denominated in United States dollars) as at May 31, 2013, which will mature within the period from August 2014 to July 2019. The outstanding bonds of HK$73,500 million issued under the Government Bond Programme (with proceeds credited to the Bond Fund) are excluded. Of these bonds, HK$7,000 million will mature within the period from June 2013 to May 2014 and the rest within the period from June 2014 to January 2023.
4. Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the Special Concessionary Measures under the SME Financing Guarantee Scheme launched in 2012, the Film Guarantee Fund and the commercial loan of the Ocean Park Corporation.
Ends/Friday, June 28, 2013
Issued at HKT 16:31
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