Fact · public-finance · 2024-25
Consolidated government deficit (after bond issuance)
政府綜合赤字（計入發債後）
Figure and reference date
HK$80.27bn (FY2024-25)
802.68 億港元（2024-25）
Notes and definition
The basis after government bond issuance and redemption. The pre-bond basis in the same fiscal document is fact entry treasury-deficit-prebond-2024-25; the two bases must not be swapped or added — state the basis.
There is more than one official basis
Should a government deficit figure include bond issuance?
The same question has 2 official bases; their figures and scopes cannot be added together or swapped.
（口徑對照頁目前只有中文版：/calibre#fiscal-balance）
Other figures in this group (public-finance)
Figures in the same group are not necessarily additive — check the basis note above first. Public finance & taxation.
| Item / 項目 | Figure / 數字 | As of / 時點 | Source / 來源 |
|---|---|---|---|
| Total tax revenue 稅務局整體稅收 | HK$458.3bn (FY2025-26) 4 583 億港元（2025-26年度） IRD revenue statistics. | 2026 | Inland Revenue Department: revenue overview and annual schedules |
| Profits tax demand notes 利得稅稅單數目 | 147,974 (corporations, FY2024-25) 147 974 張（法團，2024-25年度） | 2025 | Inland Revenue Department: revenue overview and annual schedules |
| Salaries tax demand notes 薪俸稅稅單數目 | 1,772,009 (FY2024-25) 1 772 009 張（2024-25年度） | 2025 | Inland Revenue Department: revenue overview and annual schedules |
| Fiscal reserves 財政儲備 | about HK$657.2bn (revised estimate, 31 Mar 2026) 約 6,572 億港元（2026-03-31 修訂估計） Official monthly actual (Feb 2026) earlier: about HK$716.9bn. | 2026-03-31 | FSTB: Government financial statistics |
| Consolidated government deficit (before bond issuance) 政府綜合赤字（計發債前） | HK$188.311bn (FY2024-25, before bond issuance) 1,883.11 億港元（2024-25，計發債前） The pre-bond basis in the same fiscal document; the figure after government bond issuance and redemption is fact entry treasury-deficit-2024-25. The two bases must not be swapped or added. | 2024-25 | FSTB: Government financial statistics |
| Major revenues as share of total 政府主要收入買賣（佔總收入） | Profits 31.5%, salaries 15.7%, stamp 11.3%, land premium 2.4% 利得稅 31.5%、薪俸稅 15.7%、印花稅 11.3%、地價 2.4% Total revenue HK$564.9bn; profits HK$177.7bn, salaries HK$88.9bn, stamp HK$63.9bn, land HK$13.6bn. | 2024-25 | Inland Revenue Department: revenue overview and annual schedules |
| Government budget expenditure/revenue 政府開支／收入預算 | Expenditure HK$822.3bn, revenue HK$659.4bn (FY2025-26) 開支 8,222.71億、收入 6,594.13億（2025-26） Budget caps; personal emoluments about HK$98.3bn. | 2025-26 | FSTB: Government financial statistics |
| Government fiscal reserves (end-June 2026) 政府財政儲備（2026年6月底） | HK$678.3 billion 6,783 億港元 Gov press release: consolidated account balance after transfers to EF-related reserve funds. | 2026-06 | HKSAR Government press release (fiscal reserves) |
| Government consolidated surplus (2025-26 revised estimate) 政府綜合盈餘（2025-26修訂預算） | Surplus of HK$2.9 billion 29 億港元盈餘 2025-26 revised estimate: consolidated surplus after bond issuance and repayment; asOf uses 2025. | 2025 | FSTB: Financial statistics for government cash flow |
| Profits tax collected (2025-26) 利得稅年度收入（2025-26） | HK$212.6 billion 2,126 億港元 IRD: 2025-26 profits tax collected ~HK$212.6 billion; asOf uses 2025. | 2025 | Inland Revenue Department: revenue collected (profits tax) |
| Salaries tax collected (2025-26) 薪俸稅年度收入（2025-26） | HK$97.7 billion 977 億港元 IRD: 2025-26 salaries tax collected ~HK$97.7 billion; asOf uses 2025. | 2025 | Inland Revenue Department: revenue collected (salaries tax) |
| Share of education/health/welfare spending (2026-27) 教育／醫療／福利三大範疇開支佔比（2026-27） | $357.1 billion, about 59.6% of recurrent expenditure 合共 3,571 億港元，佔政府經常開支約 59.6% 2026-27 Budget: welfare $135.9b, health $118.9b, education $102.3b; fiscal-year asOf uses 2026. | 2026 | 2026-27 Budget: Media Sheet |
31 more figures in this group are listed in Public finance & taxation.
Other figures from the same official source
These figures come from the same registered document: “FSTB: Government financial statistics” (Financial Services and the Treasury Bureau). Being in one document does not make them additive.
| Item / 項目 | Figure / 數字 | As of / 時點 | Source / 來源 |
|---|---|---|---|
| Fiscal reserves 財政儲備 | about HK$657.2bn (revised estimate, 31 Mar 2026) 約 6,572 億港元（2026-03-31 修訂估計） Official monthly actual (Feb 2026) earlier: about HK$716.9bn. | 2026-03-31 | FSTB: Government financial statistics |
| Consolidated government deficit (before bond issuance) 政府綜合赤字（計發債前） | HK$188.311bn (FY2024-25, before bond issuance) 1,883.11 億港元（2024-25，計發債前） The pre-bond basis in the same fiscal document; the figure after government bond issuance and redemption is fact entry treasury-deficit-2024-25. The two bases must not be swapped or added. | 2024-25 | FSTB: Government financial statistics |
| Government budget expenditure/revenue 政府開支／收入預算 | Expenditure HK$822.3bn, revenue HK$659.4bn (FY2025-26) 開支 8,222.71億、收入 6,594.13億（2025-26） Budget caps; personal emoluments about HK$98.3bn. | 2025-26 | FSTB: Government financial statistics |
| Fiscal reserves (est. end of 2026-27) 財政儲備（2026/27財政年度末預估） | HK$679.3 billion 6,793 億港元 Cumulative fiscal reserves forecast to end of FY2026-27 under the 2026-27 Budget. | 2027-03-31 | FSTB: Government financial statistics |
| Land premium revenue (2026-27 Budget) 地價收入（2026/27年度預算） | HK$18.0 billion, about 2.4% of government revenue 180 億港元，約佔政府收入 2.4% Land premium budget and share of government revenue per the 2026-27 Budget. | 2026-02-25 | FSTB: Government financial statistics |
How to cite this figure
Hong Kong Story, “Consolidated government deficit (after bond issuance)”, https://hongkongstory.org/en/facts/treasury-deficit-2024-25, data as at 2024-25 (retrieved ＿).
中文：香港紀事館，〈政府綜合赤字（計入發債後）〉，https://hongkongstory.org/facts/treasury-deficit-2024-25，資料時點 2024-25（查閱日期 ＿）。
Machine-readable: /api/v1/facts.json (id = treasury-deficit-2024-25) · OpenAPI 3.1 ·/llms.txt
Registered source
FSTB: Government financial statistics
Financial Services and the Treasury Bureau
The official document carries no registered publication date, so only the retrieval date 2026-10-11 is given — no publication year is invented.
This site is a secondary compilation: the official text prevails. If the figure above differs from the official document, the official document is correct.