HONG KONG - Hong Kong recorded a deficit of HK$21.6 billion ($2.78 billion) in the second quarter of the year, the city's Financial Services & the Treasury Bureau said Friday.
According to the figure released, government expenditure for the second quarter amounted to HK$121 billion, while revenue was HK$99.4 billion.
The deficit was mainly because some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year.
Hong Kong's fiscal reserves stood at HK$647.5 billion at July 31.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
