The Government said today expenditure for the period April to August amounted to HK$153.3 billion and revenue HK$119.1 billion, resulting in a deficit of HK$34.2 billion before repayment of bonds and notes, or a deficit of HK$43.9 billion after repayment of institutional notes of HK$9.7 billion in July.
A government spokesperson said that the deficit for the period was mainly because some major types of revenue including salaries and profits taxes were mostly received towards the end of a financial year.
The fiscal reserves stood at HK$711.9 billion as at 31 August 2014.
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