Hong Kong posts $34.8b deficit in April

Its expenditure is at $69.6b, whilst its revenue was $34.8b.

The Government of Hong Kong recorded a deficit of $34.8b in the first month of the current financial year.

In a statement, the government said the deficit resulted from the difference between the expenditure at $69.6b and revenue at $34.8b in April in 2023.

READ MORE: HK Govt records $77b deficit for FY2023 

A government spokesperson attributed the deficit during the month to some major types of revenue such as salaries and profits taxes mostly received by the end of a financial year.

Its fiscal reserves by the end of the month are at $800b.