Table 7

(Chapter 3: The Economy)
Government Expenditure and the Economy
$ Million
  Actual
1997–1998		   Actual
2001–2002		   Revised
Estimate
2002–2003		  
             
Government Expenditure (see Table 8)            
  Operating Expenditure 160,566   198,743   202,610  
  Capital Expenditure 33,675   39,842   37,800  
  Total Government Expenditure 194,241   238,585   240,410  
  Add other public sector bodies 40,539   30,774   32,650  
  Total Public Expenditure(1) 234,780   269,359   273,060  
Gross Domestic Product (GDP) at 1,344,546   1,278,995 @ 1,271,082 @
  current market prices (calendar year)            
Growth in GDP:            
  Nominal terms 11.0%   –0.7% @ –0.6% @
  Real terms 5.1%   0.6% @ 2.3% @
Growth in Public Expenditure:            
  Nominal terms 11.1%   0.7%   1.4%  
  Real terms 4.2%   0.3%   3.4%  
Public Expenditure as percentage of GDP 17.5%   21.1%   21.5%  
Note: (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.
Source: Financial Services and the Treasury Bureau, Government Secretariat.
(Enquiry Telephone No.: 2810 3658)