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Source: Hong Kong Information Services

The Government today announced it recorded a $318.4 billion deficit for the eight months ending November 30.

Expenditure for the period was $557.2 billion and revenue was $238.8 billion.

The Government said there was a deficit mainly because some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year.

It was also due to the Cash Payout Scheme payments and various measures under the Anti-epidemic Fund.

Fiscal reserves stood at $841.9 billion at the end of November.

MIL OSI Asia Pacific News