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Financial results for the month ended April 30, 2011

     The Government announced today (May 31) its financial results for April 2011, the first month of the current financial year.

     Expenditure for the first month amounted to $22.7 billion and revenue $24.2 billion, resulting in a surplus of $1.5 billion.

     A government spokesman said that the surplus in April was mainly due to the receipt of salaries tax, profits tax and stamp duties.

     The fiscal reserves stood at $596.9 billion as at April 30, 2011.

     More detailed figures are shown in Tables 1 and 2.


                            Month ended
                           April 30, 2011
                             HK$ million

Revenue                       24,219.0
Expenditure                  (22,724.7)
Surplus                        1,494.3

  Banking Sector              (2,140.2)
   (Note 2)
  Non-Banking Sector             645.9
 External                         -
Total                         (1,494.3)

Government Debts as at April 30, 2011 (Note 3)
  HK$11,207.8 million
Debts Guaranteed by Government as at April 30, 2011 (Note 4)
  HK$76,184.2 million


                            Month ended
                           April 30, 2011
                             HK$ million

Fiscal Reserves               595,402.6
at start of period

Consolidated Surplus            1,494.3

Fiscal Reserves               596,896.9
at end of period


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 April 30, 2011, is $28,452.1 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 April 30, 2011, which will mature within the period August 2014 to July 2019. Bonds of $27,500 million issued under the Government Bond Programme (with proceeds credited to the Bond Fund) are excluded. Of the outstanding bonds, $7,000 million will mature within the period September 2011 to April 2012 and the rest will mature within the period May 2012 to January 2020.

4. 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 the commercial loan of the Ocean Park Corporation.

Ends/Tuesday, May 31, 2011
Issued at HKT 16:37


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