Hong Kong's government reported a HK$115.9 billion deficit for the four months ended July 31, as expenditure of HK$253.7 billion outpaced revenue of HK$112.3 billion, according to an Aug. 29 statement.

The shortfall factored in HK$52.2 billion in proceeds from government bond issuance and HK$26.7 billion in bond principal repayments, according to a Friday statement.

"The deficit for the period was mainly due to the fact that some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year," a government spokesperson said.

Fiscal reserves stood at HK$538.4 billion at the end of July.

Government debt totaled HK$328.7 billion, while guarantees stood at HK$119.6 billion.