ENG-1989 — Page 438

APPENDICES

APPENDIX 9

(Chapter 5: The Economy)

Government Expenditure and the Economy

$ Million

Actual

Actual

Actual

Actual

Original Estimate

1985-86

1986-87

1987-88

1988-89

1989-90

Government Expenditure (see Appendix 8)

Operating Expenditure

30,328

33,704

36,319

42,035

51,144

Capital Expenditure

10,364

8,998

12,056

11,761

17,921

Total Government Expenditure

40,692

42,702

48,375

53,796

69,065

Less: Debt repayment

(48)

(64)

(405)

(1,000)

Equity injection in MTRC

(1,692)

(1,000)

(87)

Equity injection in

Housing Authority

(70)

(1,430)

Grants to Urban/

Regional Council

(98)

(110)

(273)

(273)

38,854

42,528

46,970

53,366

66,362

Add: Other public sector bodies

4,590

5,402

6,666

11,433

12,248

Total Consolidated Public Sector

Expenditure (Note 1)

43,444

47,930

53,636

64,799

78,610

Gross Domestic Product (calendar year)

261,195

300,818

369,275

431,605+

491,590

Growth in GDP

Money terms

5.0%

15.2%

22.8%

16.9%

13.9%

Real terms

-0.1%

11.9%

13.9%

7.2%

2.5%

Growth in Consolidated Public Sector

Expenditure

Money terms

8.9%

10.3%

11.9%

21.0%

19.9% #

Real terms

2.7%

2.6%

3.5%

7.7%

9.0% #

Consolidated Public Sector Expenditure as

percentage of GDP

16.6%

15.9%

14.5%

15.0%

16.0%

Note: 1. The consolidated public sector expenditure comprises expenditure by the Housing Authority, the Urban Council and from 1986-87, the Regional Council, expenditure financed by the Government's statutory funds and all expenditure charged to the General Revenue Account. 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.

+ Provisional estimate.

+ Preliminary estimate.

# Compared with 1988–89 Revised Estimates.

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