XN000022-1979-01-19 — Page 4

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FRIDAY, JANUARY 19, 1979

SIR MURRAY EARLIER SAID THAT IN 1978 DOMESTIC EXPORTS UP TO NOVEMBER GREW IN MONEY TERMS BY 16 PER CENT, OVERALL EXPORTS BY 20 PER CENT, REVENUE WAS BUOYANT, AND THE GROSS DOMESTIC PRODUCT FOR 1978 LOOKED AS IF IT WOULD BE COMFORTABLY OVER THE NINE PER CENT INCREASE FORECASTS.

ON SOCIAL PROGRAMMES, THE GOVERNOR STATED THEY HAVE SURGED FORWARD ON COURSE. +NEW CONSTRUCTION, BOTH PUBLIC AND PRIVATE, IS UBIQUITOUS,+ HE ADDED.

+ THE STATE OF THE POLICE FORCE AND LAW AND ORDER HAVE CONTINUED TO IMPROVE. THE FIGHT AGAINST DRUG ADDICTION IS SHOWING ENCOURAGING SIGNS OF SUCCESS.

+WE HAVE DETECTED NO REGRESSION IN THE GREAT IMPROVEMENT ACHIEVED IN REDUCING CORRUPTION IN PUBLIC LIFE.

+GENERALLY SPEAKING A YEAR OF SUCCESS AND PROGRESS, WITH SOME SIGNS OF STRAIN IN THE ECONOMY.+

HONG KONG GOVERNMENT ACCOUNTS FOR OCTOBER

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THE HONG KONG GOVERNMENT ACCOUNTS FOR THE MONTH OF OCTOBER, 1978, SHOWED A SURPLUS OF $29.6 MILLION, COMPARED WITH A DEFICIT OF $136.5 MILLION IN OCTOBER PREVIOUS YEAR.

THIS HAS RESULTED IN AN ACCUMULATED SURPLUS OF $147.9 MILLION FOR THE FIRST SEVEN MONTHS OF THIS FINANCIAL YEAR COMPARED WITH A DEFICIT OF $507.6 MILLION FOR THE SAME PERIOD LAST YEAR.

TOTAL EXPENDITURE, AT $849.5 MILLION, WAS $174.0 MILLION LESS THAN IN OCTOBER, 1977.

TOTAL REVENUE AND RECEIPTS, AT $879.1 MILLION, WERE $7.9 MILLION LESS THAN FOR THE SAME MONTH PREVIOUS YEAR.

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