ENG-2001 — Page 575

APPENDICES

APPENDIX 13

(Chapter 4: The Economy)

Government Expenditure and the Economy

$ Million

Actual

Actual

1997-98

1998-99

Actual 1999-2000

Actual 2000-2001

Revised Estimate

2001-2002

Government Expenditure (see Appendix 14)

Operating Expenditure

160,566

174,793

175,921

186,686

201,535

Capital Expenditure

33,675

41,405

38,612

38,105

37,810

Total Government Expenditure

194,241

216,198

214,533

224,791

239,345

Add other public sector bodies

40,539

50,250

54,951

42,716

33,806

Total Public Expenditure (1)

234,780

266,448

269,484

267,507 273,151

Gross Domestic Product (GDP) at

current market prices (calendar year)

1,323,862

1,259,306

1,226,983*

1,266,653* 1,262,585*

Growth in GDP;

Nominal terms

11.1%

-4.9%

-2.6%

3.2%*

-0.3%*

Real terms

5.0%

-5.3%

3.0%

10.5%*

0.1%*

Growth in Public Expenditure:

Nominal terms

11.1%

13.5%

1.1%

-0.7%

2.1%

Real terms

4.2%

8.0%

0.6%

-0.4%

1.7%

Public Expenditure as percentage of GDP

17.7%

21.2%

22.0%

21.1%

21.6%

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 MTR Corp Ltd 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 revision later on.

Source: Finance Bureau, Government Secretariat.

(Enquiry Telephone No.: 2810 3658)

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