Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



Financial results for the seven months ended
October 31, 2019

 



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Melissa Ng in New York City: (212) 752 3320
Daniel McAtee in Washington, D.C.: (202) 238 6360
Wing Yan Tong in San Francisco: (415) 835 9315

 




November 29, 2019 - The Hong Kong Special Administrative Region Government announced today its financial results for the seven months ended October 31, 2019.

Expenditure for the period April to October 2019 amounted to US$41.9 billion (HK$327 billion) and revenue US$25.8 billion (HK$201.3 billion), resulting in a cumulative year-to-date deficit of US$15.3 billion (HK$119.4 billion) after receipt of net proceeds of US$1 billion (HK$7.8 billion) from issuance of green bonds under the Government Green Bond Programme (Green Bond) and repayment of institutional notes of US$192 million (HK$1.5 billion).

A government spokesperson said that the cumulative year-to-date deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.

The fiscal reserves stood at US$134.8 billion (HK$1,051.5 billion) as at October 31, 2019.


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