APPENDICES
APPENDIX 12
(Chapter 4: The Economy)
Government Expenditure and the Economy
$ Million
Revised
Actual
Actual
Actual
Actual
Estimate
1995-96
1996-97
1997-98
1998-99
1999-2000
Government Expenditure (see Appendix 13)
Operating Expenditure
121,903
135,853
160,566
174,793 #
179,164
Capital Expenditure
39,730
37,791
33,675
41,405
43,161
Total Government Expenditure
161,633
173,644
194,241
216,198
222,325
Add other public sector bodies
29,705
37,604
40,539
50,250
56,091
Total Public Expenditure'
191,338
211,248
234,780
266,448
278,416
Gross Domestic Product (GDP) at
current market prices (calendar year)
1,077,145
1,191,890
1,323,862
1,266,840* 1,230,427*
Growth in GDP:
Nominal terms
6.6%
10.7%
11.1%
-4.3%*
-2.9%*
Real terms
3.9%
4.5%
5.0%
-5.1%*
2.9%*
Growth in Public Expenditure:
Nominal terms
15.3%
10.4%
11.1%
13.5%
4.5%
Real terms
6.3%
2.9%
4.2%
8.0%
4.0%
Public Expenditure as percentage of GDP
17.8%
17.7%
17.7%
21.0%*
22.6%*
Notes: (1) Public expenditure comprises government expenditure (i.e. all expenditure charged to the General Revenue Account and financed by the Government's statutory funds excluding Capital Investment Fund), and expenditure by the trading funds, the Housing Authority, the Lotteries Fund and the previous Provisional Urban Council and Provisional Regional Council (up to 31 December 1999). Expenditure by institutions in the private or quasi-private sector is included to the extent of their subventions, 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 investments 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. Figures are subject to revisions later on.
#
*
Source: Finance Bureau, Government Secretariat.
(Enquiry Telephone No.: 2810 3658)