$3.9b boost for surplus
The surplus for the last financial year of $80.9 billion was $3.9 billion higher than the Financial Secretary predicted in the Budget in February.
About $3.3 billion less than expected was spent and there was an additional $600 million taken in revenue.
Total revenue for 1997-98 was $275.2 billion and total spending $194.3 billion.
'Despite the economic downturn, overall revenue collections were in line with expectations,' a government spokesman said.
'The under-spending of less than two per cent was spread across a wide range of items.' A budget deficit of $21.4 billion is expected this year in the wake of the package to revive the economy.
After taking account of the net worth of the Land Fund of $203.1 billion, the Government's total financial reserves amounted to $457.5 billion on March 31.
