Table 7
APPENDICES
(Chapter 3: Economy)
Government Expenditure and the Economy
Actual
1998-1999
Actual 2002-2003
$ Million
Revised Estimate
2003-2004
Capital Expenditure
Government Expenditure (see Table 8)
Operating Expenditure
Total Government Expenditure
Add other public sector bodies
174,793†
200,310
206,734
41,405
35,927
41,873
216,198
236,237
248,607
50,250
27,283
30,576
Total Public Expenditure(1)
266,448
263,520
279,183
Gross Domestic Product (GDP) at
1,279.9
1,259.8@
1,234,9@
current market prices (HK$ billion)(2)
Growth in GDP(2).
Nominal terms
-4.8%
-0.8%@
-2.0%@
Real terms
-5.0%
2.3%@
+3.3%@
Growth in Public Expenditure:
Nominal terms
13.5%
-2.2%
4.8%
Real terms
8.0%
-0.2%
8.4%
Public Expenditure as percentage of GDP
20.8%
20.9%
22.6%
Notes: (1) Public expenditure comprises government expenditure (ie. 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.
(2) Figures refer to calender years of 1998, 2002 and 2003.
+
To avoid the double-counting of expenditure, this figure excludes government's payments to the two previous municipal councils.
Source: Financial Services and the Treasury Bureau, Government Secretariat.
(Enquiry Telephone No.: 2810 3658)
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