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APPENDICES
APPENDIX 9
(Chapter 5: The Economy)
Government Expenditure and the Economy
$ Million
Revised
Actual
Actual
Actual
Actual
Estimate
1989-90
1990-91
1991-92
1992-93
1993-94
Government Expenditure (see Appendix 10)
Operating Expenditure
50,106
61,469
71,677
85,024
97,820
Less: Grant to Regional Council
(273)
(274)
(2,300)
49,833
61,195
71,677
82,724
97,820
Capital Expenditure
Less: Debt repayment
18,973
17,873
18,720
22,247
39,212
(1,000)
(1,200)
17,973
17,873
18,720
22,247
38,012
Total Government Expenditure
67,806
79,068
90,397
104,971
135,832
Add: Other public sector bodies
14,139
16,130
18,025
18,522
22,667
Total Public Expenditure§
81,945
95,198
108,422
123,493
158,499
Gross Domestic Product (GDP) at
current market prices (calendar year)
499,157
558,859
642,930
745,407*
847,813†
Growth in GDP:
Nominal terms
15.1%
12.0%
15.0%
15.9*
13.7+
Real terms
2.8%
3.2%
4.1%
5.3*
5.5+
Growth in Public Expenditure:
Nominal terms
26.5%
16.2%
13.9%
13.9%
28.4%
Real terms
10.8%
2.3%
3.3%
3.7%
17.7%
Public Expenditure as percentage of
GDP
16.4%
17.0%
16.9%
16.6%
18.7%
Note:
§ The public expenditure comprises expenditure by the trading funds, 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 payments of Government departments which are wholly or 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 statutory organisations, in which the Government has only an equity position, such as the Mass Transit Railway Corporation and the Kowloon-Canton Railway Corporation. Similarly, 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.