Hong Kong Posts HK$30.3 Billion Deficit in First Two Months of Fiscal Year

Hong Kong reported a HK$30.3 billion deficit in the first two months of the current fiscal year, after accounting for government bond issuance and principal repayments, according to Ming Pao. Over the period, government expenditure totaled HK$125.1 billion and revenue was HK$60.9 billion. The government issued HK$37.4 billion in bonds and repaid HK$3.5 billion in bond principal. Fiscal reserves stood at HK$635.2 billion as of May 31 this year.