Hong Kong reported $44b deficit

As most revenues were received by year-end.

Government spending from April to August amounted to $170.3 billion, while revenue collected totalled $126.3 billion, resulting in a $44 billion deficit.

Financial Services & the Treasury Bureau said the deficit was mainly because some major types of revenue, including salaries and profits taxes, were mostly received towards the end of a financial year.

The fiscal reserves stood at $689.9 billion as at August 31.