FINANCIAL SERVICES | Staff Reporter, Hong Kong

Government surplus hits $7.16b in February as revenues exceed expenditures

Fiscal reserves similarly stood at a massive $1.13t.

The Hong Kong government posted a whopping $7.16b in surplus in February as the administration’s philosophy of fiscal prudence appears to be paying off.

According to a press release, revenues ($47.16b) continue to outstrip expenditure ($40b) over the month.

Also read: Slashed tax duties but no cash handouts for Hong Kong despite staggering surplus

Fiscal reserves stood at $1.1264t as of end-February. The bureau said it expects expenditure in March to exceed revenue, leading to a deficit for the month and reducing the cumulative surplus.

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