Appendix 12
(Chapter 5: The Economy)
Government Expenditure and the Economy
339
$ Million
Actual
1983-84
Actual 1984-85
Actual
1985-86
Actual 1986-87
Estimate
1987-88
Government Expenditure (see Appendix 11)
Operating Expenditure
23,671
26,646
29,785
33,091
36,759
Capital Expenditure
11,774
9,508
10,907
9,611
11,747
Total Government Expenditure
-35,445-
36,154 --- 40,692
42,702
48,506
Add
Expenditure of other public
sector bodies
3,190
3,781
4,492
5,292
6,016
Deduct Debt repayments
(39)
(43)
(48)
(64)
(87)
MTRC equity injections
(10)
(1,692)
(1,000)
Total Consolidated Account
Expenditure (Note 1)
38,596
39,882
43,444
47,930
53,435
Gross Domestic Product (calendar year)
207,562
248,728
261,195
299,826*
360,237‡
Growth in GDP
Money terms
11.4%
19.8%
5.0%
14.8%
20.1%
Real terms
6.5%
9.5%
-0.1%
11.2%
13.6%
Growth in Consolidated Account
Expenditure
Money terms
8.2%
3.3%
8.9%
-10.3%
11.5%
Real terms
3.6%
-2.5%
2.7%
2.6%
4.9%
Consolidated Account Expenditure as
percentage of GDP
18.6%
16.0%
16.7%
16.2%
15.2%
Note: 1. The consolidated account expenditure comprises expenditure by the Urban Council and the Housing Authority and from 1986-87, the Regional Council, expenditure financed by Government's statutory funds, expenditure on public works projects financed with loans from the Asian Development Bank and all expenditure charged to the General Revenue Expenditure by institutions in the private or quasi-private sector is included to the extent of their subventions. The activities of Government departments which are partly financed by charges raised on a commercial basis are also included (e.g. Airport, Waterworks). But not included is expenditure by those organisations, including even statutory organisations, in which the Government has only an equity position, such as the Mass Transit Railway Corporation and, post 1982-83, the Kowloon-Canton Railway Corporation. Similarly, debt repayments and equity payments are excluded as they do not reflect the actual consumption of resources by the Government.
* Provisional estimate.
Preliminary estimate.