TNAG-2470-FCO40-3594-Budget-of-Hong-Kong-1992 — Page 40

Capital Investment Fund (Equity Provision) HK$ bn

1992/93 MRF

1991/2 MRF

1991/2

2.

3

3. .5

1992/3

6.

1

4.9

1993/4

9.8

10.9

1994/5

7.8

12.6

1995/6

1.1

1996/7

1.1

total

28.2

31.9

Government Borrowing

16. The 1997 reserves projection of HK$ 76 bn incorporates the receipts of HK$ 4.8 bn debt issuance. Debt issues are HK$ 1.2bn 1991/92, HK$ 2.4 bn planned for 1992/93 and HK$ 1.2 bn in 1993/94. Thus by March 1994, Hong will effectively be at its debt ceiling.

Economic Advisers

11 March 1992