APPENDICES
APPENDIX 10
(Chapter 5: The Economy)
Government Expenditure and the Economy
$ Million
Revised
Actual
Actual
Actual
Actual
Estimate
1992-93
1993-94
1994-95
1995-96
1996-97
Government Expenditure (see Appendix 11)
Operating Expenditure
85,024
96,958
106,620
121,903
139,388
Less grant to Lotteries Fund
(2,300)
82,724
96,958
106,620
121,903
139,388
Capital Expenditure
Less debt repayment
22,247
38,246
38,950
39,730
38,334
(1,200)
(2,400)
22,247
37,046
36,550
39,730
38.334
Total Government Expenditure
104,971
134,004
143,170
161,633
177,722
Add other public sector bodies
18,522
21,203
22,780
29,705
39,471
Total Public Expenditure (1)
123,493
155,207
165,950
191,338
217,193
Gross Domestic Product (GDP) at
current market prices (calendar year)
779,335
897,463
1,010,885
1,084,570*
1,195,315*
Growth in GDP:
Nominal terms
16.6%
15.2%
12.6%
7.3%*
10.2%*
Real terms
6.3%
6.1%
5.4%
4.7%*
4.7%*
Growth in Public Expenditure:
Nominal terms
13.9%
25.7%
6.9%
15.3%
13.5%
Real terms
3.2%
15.5%
-2.2%
6.2%
6.0%
Public Expenditure as percentage of GDP
15.8%
17.3%
16.4%
17.6%*
18.2%*
Notes: (1) The public expenditure comprises expenditure by the trading funds, the Housing Authority, the Urban Council and the Regional Council, and 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 revisions later on as more data become available.
Source: Finance Branch, Government Secretariat.
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