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Hong Kong posts $163.7b deficit in 7M 2024
Its expenditure is at $418b, whilst its revenue was $175.6b.
The government of Hong Kong reported a deficit of $163.7b during the first seven months of the financial year ended 31 October 2024.
In a statement, the government said expenditure during the said period stood at $418b, whilst revenue amounted to $175.6b.
A government spokesperson attributed the deficit to major types of revenue including salaries and profits taxes being received towards the end of a financial year.
The fiscal reserves stood at $570.9b.
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