APPENDICES
APPENDIX 12
(Chapter 4: The Economy)
Government Expenditure and the Economy
$ Million
Revised
Actual
Actual
Actual
Actual
Estimate
1994-95
1995-96
1996-97
1997-98
1998-99
Government Expenditure (see Appendix 13)
Operating Expenditure
106,620
121,903
135,853
160,566
178,716#
Capital Expenditure
38,950
39,730
37,791
33,675
43,161
Less debt repayment
(2,400)
36,550
39,730
37,791
33,675
43,161
Total Government Expenditure
143,170
161,633
173,644
194,241
221,877
Add other public sector bodies
22.780
29.705
37,604
40,539
53,248
Total Public Expenditure (1)
165,950
191,338
211,248
234,780
275,125
Gross Domestic Product (GDP) at
current market prices (calendar year)
1,010,885
1,077,145
1,191,890
1,344,105* 1,289,129 *
Growth in GDP:
Nominal terms
12.6%
6.6%
10.7%
12.8%*
-4.1%*
Real terms
5.4%
3.9%
4.5%
5.3%*
-5.1%*
Growth in Public Expenditure:
Nominal terms
6.9%
15.3%
10.4%
11.1%
17.2%
Real terms
-2.2%
6.3%
2.9%
4,2%
11.5%
Public Expenditure as percentage of GDP
16.4%
17.8%
17.7%
17.5%*
21.3%*
Notes: (1) Public expenditure comprises expenditure by the trading funds, the Hong Kong Housing Authority, the Provisional Urban Council and the Provisional 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 Airport Authority, the Mass Transit Railway Corporation and the Kowloon- Canton Railway Corporation. Similarly, advances and equity payments from the Capital Investment Fund are excluded as they do not reflect the actual consumption of resources by the Government.
*
To avoid the double-counting of expenditure this figure excludes government's payments to the two municipal councils. The estimate is subject to revisions later on as more data become available. Not applicable.
Source: Finance Bureau, Government Secretariat.
(Enquiry Telephone No.: 2810 3658)
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