Donald Tsang Sees HK$11.4 Bln Fiscal Deficit for 2000/01

Hong Kong's financial secretary Donald Tsang said he sees a budget deficit of HK$11.4 bln for the year ending March 2001.That's lower than the government's previous HK$30 bln deficit estimate. Tsang said the figure has taken into account a shortfall of HK$13.3 bln revenue from land sales in the past fiscal year, HK$8.7 bln from investment by the Exchange Fund Investment Ltd., HK$5 bln from the flotation of Mass Transit Railway Corp.(0066) last year.

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