Government posts $73.7 billion operating surplus

Hong Kong’s government expenditures and revenues for the year ending March 31 was $7 billion higher than the revised estimate.

Revenues hit $437.7 billion while expenditures came to $364 billion. Fiscal reserves stood at $669.1 billion.

The Financial Services & the Treasury Bureau said the provisional surplus of $73.7 billion was $7 billion higher than the revised estimate.

Revenue was $4.6 billion higher than expected, largely as a result of higher revenues from stamp duties and land premiums. Expenditure was $2.4 billion lower than forecast for the revised estimate mainly due to lower requirements.

The bureau said these are provisional figures pending the final closing of the annual accounts. According to past experience, any changes to the provisional figures are unlikely to be significant.