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



Financial results for the month ended April 30, 2020

 



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Melissa Ng in New York City: (212) 752 3320
Wing Yan Tong in San Francisco: (415) 835 9315

Daniel McAtee in Washington, D.C.: (202) 238 6360




May 29, 2020 - The Hong Kong Special Administrative Region Government announced today its financial results for April 2020, the first month of the current financial year.

Expenditure for the first month amounted to HK$45.5 billion (US$5.8 billion) and revenue HK$29.4 billion (US$3.7 billion), resulting in a deficit of HK$16.1 billion (US$2 billion).

A government spokesperson said that the deficit in April 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 HK$1,144.2 billion (US$146.6 billion) as at April 30, 2020.


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