HK gov’t debt hits $293.2b

Fiscal reserves stood at $664.1b.

Hong Kong’s fiscal reserves stood at $664.1b, whilst government debt reached $293.2b, according to its financial results for the nine months ended 31 December 2024.

In addition, debts guaranteed by the government amounted to $132.4b.

From April and December 2024, total expenditure and revenue amounted to $524.2b and $349.7b, respectively, resulting in a deficit of $70.5b after taking into account $114.6b received from the issuance of government bonds and repayment of $10.6b principal on government bonds.

A government spokesperson explained that the deficit for the period was primarily due to the timing of some major revenue streams, including salaries and profits taxes, which are mostly received towards the end of a financial year.

The revised estimates for the current financial year will be published along with the 2025-2026 budget.