HK Govt records $77b deficit for FY2023

It also recorded expenditures worth $643.5b and revenue of $501.3b.

The Hong Kong Government recorded a $77b deficit for the first ten months of the current fiscal year (FY2023), taking into account the proceeds of $65.2b they received from the insurance of green bonds.

The city’s government also recorded their expenditures for the period was $643.5b and their revenue was $501.3b, whilst their fiscal reserves stood at $880.1b at the end of January.

Considering the revenue and expenditure forecast for the remaining two months, the government’s deficit for FY2023 is expected to be $139.8b, whilst the fiscal reserves will be estimated to be $817.3b by the end of March.