, Hong Kong
Source: Harry Shum (Pexels)

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.

 

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!