BUSINESS Hong Kong records 1.36-bln-USD deficit by April 30

BUSINESS

Hong Kong records 1.36-bln-USD deficit by April 30

Xinhua

19:10, May 31, 2021

File photo: Agencies

HONG KONG, May 31 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government said on Monday that it recorded a 10.6-billion-Hong Kong dollar (1.36-billion-U.S. dollar) deficit ending April 30, 2021.

Announcing its financial results for April 2021, the first month of the current financial year, the HKSAR government said expenditure was 48.6 billion Hong Kong dollars and revenue 38 billion Hong Kong dollars, resulting in a deficit of 10.6 billion Hong Kong dollars.

A spokesperson for the HKSAR government said 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 917.2 billion Hong Kong dollars as of April 30, 2021. (1 U.S. dollar equals 7.76 HK dollars) Enditem

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