This March 2, 2009 photo shows HK$100 banknotes in Hong Kong. (MIKE CLARKE / AFP)
HONG KONG – The Hong Kong Special Administrative Region (HKSAR) government on Friday announced that it recorded a HK$232.5 billion (US$29.94 billion) deficit for the year ending March 31, 2021.
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Announcing its provisional financial results for the year, the HKSAR government said expenditure was at HK$816 billion and revenue at HK$564.2 billion, resulting in the deficit for the period after receipt of net proceeds of HK$19.3 billion from issuance of green bonds under the Government Green Bond Program.
Fiscal reserves stood at HK$927.8 billion as of end-March.