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The Government announced today (May 31) its financial results for April 2013, the first month of the current financial year.
Expenditure for the first month amounted to HK$30.2 billion and revenue HK$43.6 billion, resulting in a surplus of HK$13.4 billion.
A government spokesperson said that the surplus in April was mainly due to the receipt of land premium.
The fiscal reserves stood at HK$747.3 billion as at April 30, 2013.
More detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
Month ended
April 30, 2013
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HK$ million
Revenue 43,569.5
Expenditure (30,212.4)
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Surplus 13,357.1
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Financing
Domestic
Banking Sector (14,097.3)
(Note 2)
Non-Banking Sector 740.2
External -
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Total (13,357.1)
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Government Debts as at April 30, 2013 (Note 3)
HK$11,201.4 million
Debts Guaranteed by Government as at April 30, 2013 (Note 4)
HK$80,381.2 million
TABLE 2. FISCAL RESERVES
Month ended
April 30, 2013
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HK$ million
Fiscal Reserves 733,914.1
at start of period
Consolidated Surplus 13,357.1
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Fiscal Reserves 747,271.2
at end of period
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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 April 30, 2013 is HK$75,293 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, 2013, which will mature within the period from August 2014 to July 2019. The outstanding bonds of HK$70,500 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 May 2013 to April 2014 and the rest within the period from May 2014 to January 2023.
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 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, May 31, 2013
Issued at HKT 16:30
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