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HK Govt Posts Deficit of $77.5B for First 2 Mths of This FY
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The HK Government announced its financial results for the two months ended May 31, 2024. Expenditure for the period April to May 2024 amounted to HK$120.6 billion and revenue HK$50.9 billion, resulting in a cumulative year-to-date deficit of HK$77.5 billion after taking into account the repayment of HK$7.8 billion principal on Government Bonds. A Government spokesperson said that the cumulative year-to-date deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year. AAStocks Financial News |
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