Staff Reporter
,
Hong Kong
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.
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