APPENDICES
APPENDIX 9
(Chapter 5: The Economy)
Government Expenditure and the Economy
$ Million
Revised
Actual
Actual
Actual
Actual
Estimate
1988-89
1989-90
1990-91
1991-92
1992-93
Government Expenditure (see Appendix 10)
Operating Expenditure
42,035
50,106
61,469
71,677
85,254
Less: Grant to Regional Council
(273)
(273)
(274)
Transfer to Lotteries Fund
(2,300)
41,762
49,833
61,195
71,677
82,954
Capital Expenditure
Less: Debt repayment
Equity injections
11,761
21,260
24,087
20,514
29,846
(1,000)
(157)
(2,287)
(6,214)
(1,794)
(6,072)
11,604
17,973
17,873
18,720
23,774
Total Government Expenditure
53,366
67,806
79,068
90,397
106,728
Add: Other public sector bodies
11,433
14,139
16,130
18,025
20,570
Total Public Expenditure§
64,799
81,945
95,198
108,422
127,298
Gross Domestic Product (GDP) at
current market prices (calendar year)
433,657
499,157
558,859
641,136*
742,582+
Growth in GDP:
Nominal terms
18.0%
15.1%
12.0%
14.7%*
15.8%†
Real terms
8.3%
2.8%
3.2%
4.2%*
5.0%†
Growth in Public Expenditure:
Nominal terms
20.8%
26.5%
16.2%
13.9%
17.4%
Real terms
7.8%
10.8%
2.3%
2.9%
7.3%
Public Expenditure as percentage of
GDP
14.9%
16.4%
17.0%
16.9%
17.1%
Note:
§ The public expenditure comprises expenditure by the Housing Authority, the Urban Council, the Regional Council, expenditure financed by the Government's statutory funds and all expenditure charged to the General Revenue Account. 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.
* The estimates are subject to routine revisions later on as more data become available. † Preliminary estimate.
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