The Budget deficit may approach $100 billion if there is no improvement in government revenue, Financial Secretary Antony Leung Kam-chung said yesterday.
Speaking on a live Cable TV programme, Mr Leung also apologised to a member of the audience for earlier remarks in which he said he would not 'distribute rice' to the public.
Mr Leung said of the deficit: 'It will definitely be a record high.'
The previous highest was $23.2 billion in 1998-99 when the economy was caught in the Asian financial turmoil.
Asked if it would approach $100 billion, he said: 'That may be possible, but it may not be $100 billion. I have said three sources of revenues are in doubt.'
The three are land sales, investment return on the fiscal reserves and the sale of the second batch of shares of Mass Transit Railway Corporation, which amount to about $78 billion.
