Hong Kong: A deficit of HK$80.3 billion was recorded for the 2024/2025 fiscal year.

On April 30, the Hong Kong Special Administrative Region Government announced the provisional figures for the 2024-25 financial year. The total expenditure and revenue for the 2024-25 financial year were 753.2 billion Hong Kong dollars and 564.9 billion Hong Kong dollars respectively. After including the issuance of government bonds of 130 billion Hong Kong dollars and the repayment of government bonds of 22 billion Hong Kong dollars, a deficit of 80.3 billion Hong Kong dollars was recorded for the fiscal year. The provisional figures showed a decrease of 3% (23.7 billion Hong Kong dollars) in expenditure and a decrease of 10.8% (68.1 billion Hong Kong dollars) in revenue compared to the original budget. The comprehensive deficit for this year was 80.3 billion Hong Kong dollars, a reduction of 6.9 billion Hong Kong dollars compared to the revised budget deficit of 87.2 billion Hong Kong dollars. Revenue exceeded expectations by 5.3 billion Hong Kong dollars (1%), mainly due to higher than expected revenue from stamp duties (increased by 5.9 billion Hong Kong dollars) and salaries tax (increased by 0.9 billion Hong Kong dollars). On the other hand, expenditure was reduced by 1.5 billion Hong Kong dollars (0.2%) compared to the revised budget, mainly due to lower than expected expenses. The fiscal reserves stood at 654.3 billion Hong Kong dollars as of March 31, 2025. A government spokesperson stated that all figures are provisional and subject to final settlement in the annual accounts. However, based on experience, even if provisional figures change, the extent of change is not expected to be significant.