Government posts HK$75.1b budget surplus
The government posted a HK$75.1 billion surplus for the past financial year, boosting fiscal reserves to HK$595.4 billion, the Financial Services and the Treasury Bureau said yesterday. It said the surplus was about HK$3.8 billion more than the last estimate, released in February, owing to higher land premium receipts and less expenditure. However, a deficit of HK$9.1 billion was recorded for March. Last year, the government spent HK$301.4 billion and collected HK$376.5 billion in revenue.