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<Budget>Paul Chan Expects Govt Consolidated Account to Register Surplus Over Next 5 Yrs
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Financial Secretary Paul Chan delivered a medium range forecast projecting that, from 2026-27 to 2030-31, the government's average annual capital works expenditure will be about $120 billion, while recurrent government expenditure will grow at a rate of 3.6% per annum. The ratio of total government expenditure to GDP will gradually fall from about 24.2% in 2026-27 to about 21.5% for 2030-31. Based on the above projections, there will be a surplus in the Operating Account for each of the next five years, while the Capital Account will still record a deficit due to expenditure on infrastructure. After taking account of net proceeds from the issuance of bonds, the Consolidated Account will register a surplus in each of the next five years. The above forecast has not taken into account any tax concessions or relief measures that the government may implement after 2027-28. AASTOCKS Financial News Website: www.aastocks.com |
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