TNAG-0747-FCO40-951-Visits-of-Foreign-and-Commonwealth-officials-to-Hong-Kong-1978 — Page 128

HONG

KONG GOVERNMENT

FISCAL POLICY

Table 1

FINANCIAL YEAR BEGINNING

HK$m.

1967

1968

1969

1970

1971

1972

1973

1974

1975

1976

1977

(

197

LE

ITEM

Gross Consolidated a/c Revenue,

- Land sales Loans & Bonds

1960

43

2148

40

2558

121

3155 272

3640

5031

55 18

6239

7254

8342

11164

11 60

269

670

319

287

608

557

1825

Aified Government Revenue (t) 1917

2108

2437 2883

3371

4361

5199

5952

6646

7785

9339

10 72

+MTR

Gross Consolidated a/c Expenditure (c) 1849

(4)

1934

2105

2510

2967

4385

5374

6622

6575

7362

10239

1167

1413

Economic Surplus (b)-(c). (d)

(i) - (b)

68

174

332

373

404

-24

-175 -670

71

423

-900

-949

-340

=

Financial Surplus (a) - (c) = (e)

111

214

453

645

673

646

144 -383

679

980

925

GDP at current prices

(f) 12,411

13,356

15,791

18,670

20,976

24, 156

(2) c.30,680 35,252

37,268 47,329

54,444

63,50

9 =

d/f

%

0.5

1.3

21

2-0

1.9

-0.1

-0.6

-1.9

0.2

0.9

-1.7

-1.5

R =

jlf

%.

5-4

n

If

%%

०.१

1.6

2.9

3-5

3.2

2-7

0.5 -1.1

1.8

2.1

1.7

NOTES

(

(1) LE = Latest Estimate by HK Government (March 1978) (2) GDP in 1973 is average of two estimates for that year (3) Capital account only

(in "Estimates of KDP")

(Annex 9 to 78 Budget Speech)

(4) Expenditure by the Mass Transit Railway Corporation in 1978 is predicted to be $2455m