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



Financial results for the six months ended September 30, 2020

 



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October 30, 2020 - The Hong Kong Special Administrative Region Government announced today (October 30) its financial results for the six months ended September 30, 2020.

Expenditure for the period April to September 2020 amounted to HK$427.8 billion (US$54.8 billion) and revenue HK$148 billion (US$18.9 billion), resulting in a cumulative year-to-date deficit of HK$279.8 billion (US$35.8 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, and the payments in respect of the Cash Payout Scheme and various measures under the Anti-epidemic Fund.

The fiscal reserves stood at HK$880.5 billion (US$112.8 billion) as at September 30, 2020.


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