The Hong Kong government Friday announced a 26-billion-Hong Kong-dollar (3.34-billion-US-dollar) budget surplus for the past fiscal year, saying its finances had been buoyed by rising tax revenues and land sales, according to dpa. The surplus for the fiscal year to March 31 was almost double the 13.8 billion Hong Kong dollars predicted two months ago. It also contrasted with the grim forecast of a budget deficit for the fiscal year of 40 billion Hong Kong dollars made by Financial Secretary John Tsang in early 2009. A spokesman for the Hong Kong government said it had collected 9.9 billion Hong Kong dollars more than expected.
