Published:
Hong Kong government's deficit hit $1.4b in February
Expenditure was at $35.7b whilst revenue is at $34.3b.
The Government recorded a $1.4 billion deficit in February, the Financial Services & the Treasury Bureau announced. It saw expenditure of $35.7 billion and revenue of $34.3 billion during the month.
The bureau said expenditure in March is expected to exceed revenue, resulting in a deficit and reducing the cumulative surplus.
Government expenditure for the 11-month period ending in February amounted to $412.9 billion, with revenues of $523.4 billion, bringing the cumulative year-to-date surplus to $110.5 billion.
Fiscal reserves stood at $953.4 billion as at February 28.
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