Appendix 8
(Chapter 4: The Economy)
Government Expenditure and the Economy
317
$ Million
Actual
Actual
Actual
Actual
Estimate
1982-83
1983-84
1984-85
1985-86
1986-87
Government Expenditure (see Appendix 7)
Operating Expenditure
21,460
23,671
26,646
29,785
33,122
Capital Expenditure
11,632
11,774
9,508
10,907
9,880
Total Government Expenditure
33,092
35,445
36,154
40,692
43,002
Add Capital expenditure of other
public sector bodies
2,615
3,190
3,781
4,492
5,520
Deduct Debt repayments
(23)
(39)
(43)
(48)
(60)
MTRC equity injections
(10)
(1,692)
Total Consolidated Expenditure
35,684
38,596
39,882
43,444
48,462
Gross Domestic Product (calendar year)
186,328
207,562
248,728
263,579
291,897
Growth in GDP
Money terms
12.9%
11.4%
19.8%
6.0%
10.7%
Real terms
3.0%
6.5%
9.5%
0.6%
8.7%
Growth in Consolidated Expenditure
Money terms
21.4%
8.2%
3.3%
8.9%
11.5%
Real terms
10.4%
3.6%
-2.5%
2.7%
4.4%
Consolidated Expenditure as percentage
of GDP
19.2%
18.6%
16.0%
16.5%
16.6%
Note: The consolidated expenditure comprises expenditure by the Urban Council and the Housing Authority and from 1986-87, the Regional Council, expenditure financed by Government's statutory funds, expenditure on public works projects financed with loans from the Asian Development Bank and all expenditure charged to the General Revenue Expenditure by institutions in the private or quasi-private sector is included to the extent of their subventions. The activities of Government departments which are partly financed by charges raised on a commercial basis are also included (e.g. Airport, Waterworks). But not included is expenditure by those organisations, including even statutory organisations, in which the Government has only an equity position, such as the Mass Transit Railway Corporation and, post 1982-83, the Kowloon-Canton Railway Corporation. Similarly, debt repayments and equity payments are excluded as they do not reflect the actual consumption of resources by the Government.
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