Hong Kong recorded a deficit of 900 million HK dollars (115.9 million U.S. dollars) in June, resulting in a 10.3 billion (1.33 billion U.S. dollars) deficit for the financial year’s first three months, the Financial Services and the Treasury Bureau announced Friday.

Government expenditure in June was 27.3 billion HK dollars with revenue of 26.4 billion HK dollars.

The deficit for the period was mainly because some major types of revenue, including salaries and profits taxes, were mostly received towards the end of a financial year.

Government expenditure for April-June was 71.1 billion HK dollars with revenue of 60.8 billion HK dollars.

Fiscal reserves stood at 509.9 billion HK dollars at the end of June. (1 U.S. dollar equals 7.767 HK dollars) -Xinhua