Source: Hong Kong Government special administrative region
Provisional financial results for year ended March 31, 2025
Expenditure and revenue for the year ended March 31, 2025 amounted to HK$753.2 billion and HK$564.9 billion respectively, resulting in a deficit of HK$80.3 billion after taking into account HK$130 billion received from issuance of Government Bonds and repayment of HK$22 billion principal on Government Bonds.
Expenditure and revenue for the year were 3 per cent (HK$23.7 billion) and 10.8 per cent (HK$68.1 billion) lower than the original estimate respectively.
The consolidated deficit for the year was HK$80.3 billion, i.e. HK$6.9 billion lower than the revised estimate of HK$87.2 billion. Revenue was HK$5.3 billion (1 per cent) higher than expected, mainly attributable to stamp duties ($5.9 billion higher) and salaries tax ($0.9 billion higher). Expenditure was HK$1.5 billion (0.2 per cent) lower than the revised estimate mainly due to lower-than-expected requirements.
The fiscal reserves stood at HK$654.3 billion as at March 31, 2025.
A Government spokesperson said that these are provisional figures pending the final closing of the annual accounts. According to experience, any changes to the provisional figures are unlikely to be significant.
Detailed figures are shown in Tables 1 and 2.
TABLE 1. CONSOLIDATED ACCOUNT (PROVISIONAL) (Note 1)
| March 31, 2025 HK$ millionMarch 31, 2025 HK$ millionand repayment of Government Bondsissuance of Government BondsGovernment Bonds*and repayment of Government BondsGovernment Debts as at March 31, 2025 (Note 3) HK$299,344 million Debts Guaranteed by Government as at March 31, 2025 (Note 4) HK$127,472 million TABLE 2. FISCAL RESERVES (PROVISIONAL)
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