Hong Kong Deficit
Hong Kong risks narrowing fiscal buffers amidst ‘sizeable’ spending plan
Hong Kong risks narrowing fiscal buffers amidst ‘sizeable’ spending plan
The city’s deficit is expected to remain wide for a longer period.
How can Hong Kong narrow down its fiscal deficit
KPMG China projected Hong Kong’s deficit to reach $120.9b in 2022/23.
Hong Kong deficit could hit $120.9b in 2022/23: KPMG China
This is double the government’s estimates of $56.3b, KPMG China projected.
Hong Kong posts $183.2b deficit
Fiscal reserves stood at $773.9b.
Gov’t deficit hits $183b
The government took into account the proceeds of $20b received from the issuance of green bonds.
The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.
There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.
In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Gov’t records $57.2b deficit as of July
Revenue during the same period amounted to $147.2b.
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