[Budget]HK Govt forecasts HK$92.8bn surplus for 2016-17

    The Financial Secretary Chan Mo-po, Paul said in the 2017-18 Budget Speech that he forecasts a surplus of HK$92.8 billion for 2016-17.
  Fiscal reserves are expected to reach HK$935.7 billion by 31 March 2017, said Chan.
  The 2016-17 revised estimate on government revenue is HK$559.5 billion, 12% or HK$61.3 billion higher than the original estimate. This is due mainly to the increase in revenue from land sales and stamp duty.
  Revenue from land sales is HK$50.8 billion or 76% higher than the original estimate, demonstrating yet again that land revenue has always been highly volatile and vulnerable to market fluctuations. It was only in 2015-16, when revenue from land sales was nearly HK$9.1 billion lower than estimated as some sites were unable to be sold.  As a result of a period of hectic trading in the property market last year, stamp duty revenue for the whole year would be HK$8 billion or 16% higher than estimated. 
  As for government expenditure, Chan forecasts a revised estimate of HK$466.7 billion, 4.1% or HK$20.2 billion lower than the original estimate. This is mainly because the $10 billion set aside for the Hospital Authority Public-Private Partnership Fund in the original estimate was advanced and allocated in 2015-16.