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The Government announced today (March 30) its financial results for the eleven months ended February 28, 2007.
Expenditure for the period April 2006 to February 2007 amounted to $206.9 billion and revenue $244.3 billion, resulting in a surplus of $37.4 billion.
The fiscal reserves stood at $348.0 billion as at February 28, 2007.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT
Month ended Eleven months ended
February 28, 2007 February 28, 2007
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HK$ million HK$ million
Revenue 12,692.6 244,285.3
Expenditure (18,247.0) (206,908.8)
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Surplus/(Deficit) (5,554.4) 37,376.5
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Financing
Domestic
Banking Sector (Note 1) 5,421.1 (39,319.3)
Non-Banking Sector 133.3 1,942.8
External - -
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Total 5,554.4 (37,376.5)
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Government Debts as at February 28, 2007 (Note 2)
HK$21,668.6 million
Debts Guaranteed by Government as at February 28, 2007 (Note 3)
HK$5,152.1 million
TABLE 2. FISCAL RESERVES
Month ended Eleven months ended
February 28, 2007 February 28, 2007
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HK$ million HK$ million
Fiscal Reserves at
start of period 353,593.5 310,662.6
Add: Consolidated
Surplus/(Deficit) (5,554.4) 37,376.5
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Fiscal Reserves at
end of period 348,039.1 348,039.1
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Notes :
1. Includes transactions with the Exchange Fund and resident banks.
2. The total government debts of $21,668.6 million as at February 28, 2007 comprise :
(i) Toll Revenue Bond of $4,200.1 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, $880 million will mature in May 2007 and the rest will mature by May 2016 but may be fully repaid before then; and
(ii) Retail bonds and institutional notes totalling $17,468.5 million (including US$1.25 billion denominated in United States dollars). The maturity dates of these bonds and notes fall 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.
Ends/Friday, March 30, 2007
Issued at HKT 16:15
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