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Hong Kong records 8.76 bln USD deficit

Xinhua, October 30, 2015 Adjust font size:

Hong Kong recorded a deficit of 67.9 billion HK dollars (about 8.76 billion U.S. dollars) for the April-September period, the Financial Services & the Treasury Bureau announced on Friday.

According to the bureau, the Hong Kong government expenditure for the April-September period amounted to 210.6 billion HK dollars, while revenue was 142.7 billion HK dollars, resulting in the deficit.

The deficit was mainly because some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year.

Fiscal reserves stood at 760.6 billion HK dollars at Sept. 30. (1 U.S. dollar = 7.75 HK dollars) Endit