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APPENDICES
APPENDIX 12
(Chapter 5: The Economy)
Government Expenditure and the Economy
$ Million
Revised
Actual
Actual
Actual
Actual
Estimate
1993-94
1994-95
1995-96
1996-97
1997-98
Government Expenditure (see Appendix 13)
Operating Expenditure
96,958
106,620
121,903
135,853
159,612
Capital Expenditure
38,246
38,950
39,730
37,791
37,893
Less debt repayment
(1,200)
(2,400)
37,046
36,550
39,730
37,791
37,893
Total Government Expenditure
134,004
143,170
161,633
173,644
197,505
Add other public sector bodies
21,203
22,780
29,705
37,604
46,399
Total Public Expenditure (1)
155,207
165,950
191,338
211,248
243,904
Gross Domestic Product (GDP) at
current market prices (calendar year)
897,463
1,010,885
1,077,145
1,192,358* 1,327,029*
Growth in GDP:
Nominal terms
15.2%
12.6%
6.6%
10.7%*
11.3%*
Real terms
6.1%
5.4%
3.9%
5.0%*
5.2% *
Growth in Public Expenditure:
Nominal terms
25.7%
6.9%
15.3%
10.4%
15.5%
Real terms
15.5%
-2.2%
6.3%
2.9%
8.2%
Public Expenditure as percentage of GDP
17.3%
16.4%
17.8%
17.7%*
18.4%*
Notes: (1) The public expenditure comprises expenditure by the trading funds, the Housing Authority, the Provisional Urban Council and the Provisional 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 Bureau, Government Secretariat.
(Enquiry Telephone No.: 2810 3659)