Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Hong Kong budget deficit to be just under HK$100 billion, financial chief says

admin by admin
January 4, 2025
in Economy
0
Hong Kong budget deficit to be just under HK$100 billion, financial chief says
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

HONG KONG (Reuters) – Hong Kong’s deficit for this fiscal year is expected to be just below HK$100 billion ($13 billion), the city’s finance chief said on Saturday.

The government is “focussing on cost-saving measures” to tackle the deficit, Paul Chan told residents on a programme on public broadcaster RTHK where he was gathering public feedback ahead of the upcoming budget.

“Although we need to move forward with public works projects… we have to prioritise developments according to their urgency,” he said.

The growth rate of economy in the first three quarters of 2024 was not as strong as expected due to high interest rates and external challenges, Chan said.

Hong Kong’s economy is expected to grow 2.5% in 2024, he wrote in a blog post in December. That followed a 1.8% third quarter growth rate, which fell below expectations.

The estimated deficit for the year ending in March is about double the previous forecast of HK$48.1 billion in the budget presented in February.

Chan attributed the deficit mainly to a sharp decline in land sales revenue. Boosting the economy amid a fiscal deficit would be Hong Kong’s “biggest challenge”, he said.

($1 = 7.7779 Hong Kong dollars)

This post appeared first on investing.com

Previous Post

Long RGP: RGP’s Strong Q2 Performance Signals Potential for Bullish Momentum

Next Post

Fed policy may need to stay restrictive for longer due to inflation risk, Barkin says

admin

admin

Next Post
Fed policy may need to stay restrictive for longer due to inflation risk, Barkin says

Fed policy may need to stay restrictive for longer due to inflation risk, Barkin says

Trending News

Ibotta shares nosedive 31% after earnings miss and price target cuts

Ibotta shares nosedive 31% after earnings miss and price target cuts

August 14, 2025
Is it safe to buy the Mastercard stock at an all-time high?

Is it safe to buy the Mastercard stock at an all-time high?

September 21, 2024
Saab shares climb over 12% as defense firm lifts 2025 sales forecast after strong Q2

Saab shares climb over 12% as defense firm lifts 2025 sales forecast after strong Q2

July 18, 2025
Subscribe to Insightful Word


    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025
    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    August 28, 2025
    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    August 28, 2025

    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025

    Latest News

    • Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in
    • SentinelOne stock price forecast ahead of earnings: buy or sell?
    • Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.