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APPENDICES

APPENDIX 13

(Chapter 4: The Economy)

Government Expenditure and the Economy

Actual

Actual

Actual

1996-97

1997-98

1998-99

Actual 1999-2000

$ Million

Revised Estimate 2000-2001

Government Expenditure (see Appendix 14)

Operating Expenditure

135,853

160,566

174,793 #

175,921

188,799

Capital Expenditure

37,791

33,675

41,405

38,612

37,295

Total Government Expenditure

173,644

194,241

216,198

214,533

226,094

Add other public sector bodies

37,604

40,539

50,250

54,951

52,294

Total Public Expenditure (1)

211,248

234,780

266,448

269,484 278,388

Gross Domestic Product (GDP) at

current market prices (calendar year)

1,191,890

1,323,862

1,259,306

1,231,363* 1,271,697*

Growth in GDP:

Nominal terms

10.7%

11.1%

-4.9%

-2.2%*

3.3%*

Real terms

4.5%

5.0%

-5.3%

3.1%*

10.5%*

Growth in Public Expenditure:

Nominal terms

10.4%

11.1%

13.5%

1.1%

3.3%

Real terms

2.9%

4.2%

8.0%

0.5%

3.8%

Public Expenditure as percentage of GDP

17.7%

17.7%

21.2%

21.9%

21.9%

Notes: (1) Public expenditure comprises government expenditure (i.e. all expenditure charged to the General Revenue Account and financed by the Government's statutory funds excluding Capital Investment Fund), and expenditure by the trading funds, the Housing Authority, the Lotteries Fund and the previous Provisional Urban Council and Provisional Regional Council (up to 31 December 1999). Expenditure by institutions in the private or quasi-private sector is included to the extent of their subventions. But not included is expenditure by those organisations, including statutory organisations, in which the Government has only an equity position, such as the Airport Authority, the Mass Transit Railway Corporation and the Kowloon-Canton Railway Corporation. Similarly, advances and equity investments from the Capital Investment Fund are excluded as they do not reflect the actual consumption of resources by the Government.

To avoid double-counting of the expenditure, this figure excludes government's payments to the two previous municipal councils. Figures are subject to revisions later on.

Source: Finance Bureau, Government Secretariat.

(Enquiry Telephone No.: 2810 3658)