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(Chapter 3: The Economy)
| Government Expenditure and the
Economy |
| $ Million |
 |
 |
|
Actual
1998-1999 |
|
Actual
2002-2003 |
|
Revised
Estimate
2003-2004 |
|
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| |
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| Government Expenditure
(see Table 8) |
|
|
|
|
|
|
| |
Operating Expenditure |
174,793 |
 |
200,310 |
|
206,734 |
|
| |
Capital Expenditure |
41,405 |
|
35,927 |
|
41,873 |
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| |
|
|
|
|
|
|
| |
Total Government Expenditure |
216,198 |
|
236,237 |
|
248,607 |
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| |
Add other public
sector bodies |
50,250 |
|
27,283 |
|
30,576 |
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| |
|
|
|
|
|
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| |
Total Public Expenditure(1) |
266,448 |
|
263,520 |
|
279,183 |
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| |
|
 |
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| |
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| Gross Domestic Product
(GDP) at current market prices (HK$ billion)(2) |
1,279.9 |
|
1,259.8 |
@ |
1,234.9 |
@ |
| Growth
in GDP(2): |
|
|
|
|
|
|
| |
Nominal
terms |
-4.8% |
|
-0.8% |
@ |
-2.0% |
@ |
| |
Real terms |
-5.0% |
|
2.3% |
@ |
+3.3% |
@ |
| Growth in Public Expenditure: |
|
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|
|
|
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| |
Nominal terms |
13.5% |
|
-2.2% |
|
4.8% |
|
| |
Real terms |
8.0% |
|
-0.2% |
|
8.4% |
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| Public Expenditure
as percentage of GDP |
20.8% |
|
20.9% |
|
22.6% |
|
|
Notes: |
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(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. |
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(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. |
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Source: |
Financial Services and the Treasury Bureau, Government
Secretariat.
(Enquiry Telephone No.: 2810 3658) |
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