Hong Kong Deficit
Hong Kong risks narrowing fiscal buffers amidst ‘sizeable’ spending plan
The city’s deficit is expected to remain wide for a longer period.Â
Hong Kong risks narrowing fiscal buffers amidst ‘sizeable’ spending plan
The city’s deficit is expected to remain wide for a longer period.Â
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.Â
Hong Kong posts $183.2b deficit
Fiscal reserves stood at $773.9b.
Gov’t deficit hits $183bÂ
The government took into account the proceeds of $20b received from the issuance of green bonds.
Â
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.
Â
There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.Â
Â
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.
Read Here
Advertise
Sign Up
Commentary
Transforming Hong Kong into a climate tech powerhouse