Hong Kong posts $183.2b deficit

Fiscal reserves stood at $773.9b.

The Hong Kong government reported a deficit worth $183.2b in the first nine months of the current financial year. 

Over the same period, expenditure incurred stood at $593.3b, whilst revenue generated was worth $390.1b.

Read more: Hong Kong fiscal deficit may reach $109b for FY2022/23: PwC 

The government noted the deficit was recorded after the proceeds of $2b from the green bonds were taken into account. 

The government said there was a deficit mainly because some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.

Meanwhile, fiscal reserves stood at $773.9b as of the end of December.