季节性赤字 meaning in Chinese

seasonal deficit

First , we used the opportunity to sell foreign reserves for hong kong dollars , in anticipation of the draw down of fiscal reserves deposited with the exchange fund , as the public finances moved into a cyclical as well as a seasonal deficit . this relieved some of the pressure on the exchange rate and therefore obviated the need for a repeat of the very sharp interest rate hike of 1997
首先，由于公共财政步入周期性及季节性赤字，我们预期政府会提取存入外汇基金的财政储备，于是我们藉机沽出外汇储备，以换取港元，在某程度上使汇率所受的压力得以纾缓，避免再次出现