Hong Kong 500 and 100 dollar banknotes are arranged for a photograph in Hong Kong, on April 23, 2020. (PAUL YEUNG / BLOOMBERG)

The Hong Kong government announced on Monday that it had recorded a HK$47.4 billion surplus for the 10 months ending Jan 31. 

Expenditure for the period was HK$541.5 billion and revenue was HK$609.9 billion, according to a government press release. Net proceeds of HK$29.1 billion were also booked from the issuance of green bonds, it added.

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Fiscal reserves stood at HK$1,025.3 billion as at the end of January. 

The surplus was mainly due to the receipt of land premiums, profits tax and stamp duties, said the government. 

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Taking into account the forecast revenue and expenditure for the remaining two months, the surplus for 2021-22 financial year is expected to be HK$18.9 billion and the fiscal reserves are estimated to be HK$946.7 billion as at the end of March, added the press release.