k
PART 11 : ECONOMIC BACKGROUND AND PROSPECTS
GROSS DOMESTIC
PRODUCT
INCREASED BY 20 PER CENT IN MONEY TERMS TO HK DOLLARS 28,335 MILLION IN 1973. OIL SITUATION MAKES RATE OF GROWTH FOR 1974 DIFFICULT TO FORECAST, BUT IT COULD BE 4 PER CENT IN REAL TERMS OR 14-15 PER CENT IN MONEY TERMS TO HK DOLLARS 32,400 MILLION.
PART 111 : DRAFT ESTIMATES FOR 1974-75 ESTIMATES OF REVENUE AND EXPENDITURE
REVENUE 3
HK DOLLARS 5679 MILLION
EXPENDITURE : HK DOLLARS 5747 MILLION
BUDGETTED DEFICIT: HK DOLLARS 68 MILLION WHICH BECOME S HK DOLLARS 154 MILLION AFTER ALLOWING FOR FURTHER KNOWN COMMITMENTS AND THE RECOVERING OF EXPENDITURE IN 1974/75 ON THE MASS
TRANSIT RAILWAY,
RECURRENT ACCOUNT
RECURRENT
REVENUE AT HK DOLLARS 5169 MILLION IS 8.4, PER CENT OVE
:
REVISED ESTIMATE FOR 1973-7}}
RECURRENT EXPENDITURE : AT HK DOLLARS 3914 MILLION AFTER CUTTING
BY HK DOLLARS 23 MILLION FOR BUDGETARY REASONS, IS 13 PER CENT OVER REVISED ESTIMATE FOR 1973-74. MAIN ELEMENTS OF INCREASE ARE HK DOLLARS 137 MILLION FOR PERSONAL EMOLUMENTS : HK DOLLARS 98 MILLION FOR SUBVEN-
TIONS TO EDUCATIONAL, MEDICAL AND SOCIAL WELFARE ORGANISATIONS: HK DOLLARS 62 MILLION FOR SQUATTER CONTROL, CLEARANCES AND FOR MAMAGING HOUSING ESTATES
擎
HK DOLLARS 49 MILLION FOR PUBLIC ASSISTANCE AND INFIRMITY DISABILITY ALLOWANCES.
CAPITAL ACCOUNT
CAPITAL REVENUE : HK DOLLARS 510 MILLION
CAPITAL EXPENDITURE: HK DOLLARS 1833 MILLION AFTER CUTTING BY
HK DOLLARS 182 MILLION FOR BUDGETARY REASONS.
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