ENG-1990 — Page 470

APPENDICES

APPENDIX 9

(Chapter 5: The Economy)

Government Expenditure and the Economy

$ Million

Original

Actual

Actual

Actual

Actual

Estimate

1986-87

1987-88

1988-89

1989-90

1990-91

Government Expenditure (see Appendix 10)

Operating Expenditure

33,704

36,319

42,035

50,106

63,940

Less: Grant to Urban Council

(7)

Grant to Regional Council

(103)

(273)

(273)

(270)

33,594

36,319

41,762

49,833

63,670

Capital Expenditure

8,998

12,056

11,761

21,260

27,040

Less: Debt repayment

(64)

(405)

(1,000)

Equity injection in MTRC

(1,000)

(87)

(87)

(90)

Equity injection in

Housing Authority

(70)

(2,200)

(4,000)

8,934

10,651

11,604

17,973

22,950

Total Government Expenditure

42,528

46,970

53,366

67,806

86,620

Add: Other public sector bodies

5,402

6,666

11,433

14,139

17,020

Total Consolidated Public Sector

Expenditure (Note 1)

47,930

53,636

64,799

81,945

103,640

Gross Domestic Product (GDP) at

current market prices (calendar year)

300,818

369,275

423,023

490,811†

546,058

Growth in GDP:

Nominal terms

15.2%

22.8%

17.5%

13.1%

11.3%

Real terms

11.9%

13.9%

7.9%

2.3%

2.4%

Growth in Consolidated Public Sector

Expenditure:

Nominal terms

10.3%

11.9%

20.8%

26.5%

24.0% #

Real terms

2.6%

3.5%

7.8%

10.8%

9.4% #

Consolidated Public Sector Expenditure as

percentage of GDP

15.9%

14.5%

14.9%

16.7%

19.0%

412

Note:

I. The consolidated public sector expenditure comprises expenditure by the Housing Authority, the Urban Council, 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 1989-90 Revised Estimates.