(All prices in $ billion at March 1991 prices)
HKG capital expenditure
Equity in AA
Equity in MTRC
Total Government cost
July 1991 Estimates
Current Estimates
41.7
42.7
13.8
13.6
3.8
3.0
59.3
59.3
Secondly, the Hong Kong Government is now in a much more
comfortable position than projected earlier in terms of the level
of its fiscal reserves. During the Airport Talks in February
1991, the Chinese side was informed that the fiscal reserves of
the HKG were expected to be between $72 to $73 billion at the end-
of 1991-92. The latest projection as shown in the 1992-93 Budget-
Speech is that the reserves will stand at $91.8 billion when the
financial year closes next week. This is some $19 billion higher
than the February 1991 projection. (The higher reserve balance
is achieved mainly due to a higher surplus achieved by the end of
1990-91 ($4 billion), new revenue measures ($3 billion),
underspending in capital expenditure ($7 billion) and increased
land revenue ($3 billion) during 1991-92.)
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