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Source: Harry Shum (Pexels)
Hong Kong posts $183.2b deficit
Fiscal reserves stood at $773.9b.
The Hong Kong government reported a deficit worth $183.2b in the first nine months of the current financial year.
Over the same period, expenditure incurred stood at $593.3b, whilst revenue generated was worth $390.1b.
Read more: Hong Kong fiscal deficit may reach $109b for FY2022/23: PwC
The government noted the deficit was recorded after the proceeds of $2b from the green bonds were taken into account.
The government said there was a deficit mainly because some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.
Meanwhile, fiscal reserves stood at $773.9b as of the end of December.
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