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Hong Kong records deficit of 6.42 bln USD

Xinhua, September 30, 2015 Adjust font size:

Hong Kong records a deficit of 49.8 billion HK dollars (about 6.42 billion U.S. dollars) for the period April to August 2015, the government said on Wednesday when announcing its financial results for the five months ended Aug. 31, 2015.

Hong Kong's expenditure for the period April to August 2015 amounted to 175.4 billion HK dollars and revenue 125.6 billion HK dollars, resulting in a cumulative year-to-date deficit of 49.8 billion HK dollars.

A government spokesperson said the cumulative year-to-date deficit for the period was mainly because some major types of revenue including salaries and profits taxes were mostly received towards the end of a financial year. (1 U.S. dollar = 7.75 HK dollars) Endi