Financial results for the five months ended August 31, 2020

For more information, please contact

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

September 30, 2020 - The Hong Kong Special Administrative Region Government announced today its financial results for the five months ended August 31, 2020.

Expenditure for the period April to August 2020 amounted to HK$360.1 billion (US$46.1 billion) and revenue HK$127.5 billion (US$16.3 billion), resulting in a cumulative year-to-date deficit of HK$232.6 billion (US$29.8 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$927.7 billion (US$118.9 billion) as at August 31, 2020.