HONG KONG – The Hong Kong Special Administrative Region  government said on Friday that it recorded a HK$115.7 billion ($14.88 billion) deficit during the April-September period 2021.

Announcing its financial results for the six months ended Sept 30, 2021, the HKSAR government said expenditure amounted to HK$316 billion and revenue HK$200.3 billion.

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A spokesperson for the HKSAR government said the cumulative year-to-date deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.

The fiscal reserves stood at HK$812.1 billion as of Sept 30.