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The Government announced today (March 29) its financial results for the 11 months ended February 28, 2006.
Expenditure for the period April 2005 to February 2006 amounted to $210.2 billion and revenue to $222.2 billion, resulting in a surplus of $12.0 billion.
The fiscal reserves stood at $308.0 billion as at February 28, 2006.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT
Month ended Eleven months ended
February 28, 2006 February 28, 2006
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HK$ million HK$ million
Revenue 11,352.0 222,172.4
Expenditure (18,952.8) (210,141.5)
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Surplus/(Deficit) (7,600.8) 12,030.9
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Financing
Domestic
Banking Sector(Note 1) 7,517.0 (13,417.7)
Non-Banking Sector 83.8 1,386.8
External - -
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Total 7,600.8 (12,030.9)
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Government Debts as at February 28, 2006 (Note 2)
HK$24,588.6 million
Debts Guaranteed by Government as at February 28, 2006 (Note 3)
HK$5,408.0 million
Notes:
1. Includes transactions with the Exchange Fund and resident banks.
2. The total government debts of $24,588.6 million as at February 28, 2006 comprise:
(i) Toll Revenue Bond of $4,639.9 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 $19,948.7 million (including US$1.25 billion denominated in United States dollars). Of the outstanding retail bonds and institutional notes, $2,550 million will mature in July 2006 and the rest will mature within the period July 2008 to July 2019.
3. Includes guarantees provided under the Special Finance Scheme for Small and Medium Enterprises, the Self-employment Business Start-up Assistance Scheme, the SME Loan Guarantee Scheme, the Film Guarantee Fund and the Loan Guarantee Scheme for Severe Acute Respiratory Syndrome Impacted Industries.
TABLE 2. FISCAL RESERVES
Month ended Eleven months ended
February 28, 2006 February 28, 2006
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HK$ million HK$ million
Fiscal Reserves at
start of period 315,613.0 295,981.3
Add: Consolidated
Surplus/(Deficit) (7,600.8) 12,030.9
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Fiscal Reserves at
end of period 308,012.2 308,012.2
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Ends/Wednesday, March 29, 2006
Issued at HKT 16:16
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