Hong Kong Budget 2017-18: Winners All Around
- Beneficiaries include construction sector, seniors, workers
- Gross domestic product forecast to grow 2 to 3 percent in 2017
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In a bid to boost growth amid sluggish retail sales, soaring property prices and the potential for further interest rate increases, Hong Kong’s Financial Secretary Paul Chan announced measures to support infrastructure, senior citizens and salaried workers.
The 2017-18 budget comes ahead of a vote next month on who will become the city’s next Chief Executive. The range of measures aim to help spur economic activity after gross domestic product growth slowed to 1.9 percent last year. The government is forecasting 2 percent to 3 percent expansion in 2017. Here are some of the biggest winners of the Hong Kong budget and the sole loser.