Revised Estimates for 2024-25
216. The 2024‑25 revised estimate on total government revenue is $559.6 billion, lower than the original estimate by 11.6 per cent.
217. Among them, revenues from profits tax and salaries tax remain stable at $177.7 billion and $88 billion respectively, comparable to the original estimates, demonstrating the strong resilience of Hong Kong economy.
218. However, as asset market is under pressure, government revenues from land premium and stamp duties have declined. Revenue from land premium is $13.5 billion, substantially lower than the original estimate by $19.5 billion. Revenue from stamp duties of $58 billion is lower than the original estimate by $13 billion.
219. Government expenditure for 2024-25 is comparable to the original estimate. The revised estimate of total government expenditure for 2024‑25 is $754.8 billion, lower than the original estimate by $22.1 billion. Of this, the recurrent expenditure is $562.5 billion, lower than the original estimate by $17.7 billion.
220. Taking into account the issuance of government bonds of $130 billion and repayments of $22.1 billion, it is expected that there will be a consolidated deficit of $87.2 billion for 2024‑25. Fiscal reserves are expected to be $647.3 billion by 31 March 2025.
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