Economics

The Winners and Losers From Hong Kong’s Budget 2019

The Winners and Losers of Hong Kong's 2019 Budget
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Hong Kong’s Financial Secretary Paul Chan unveiled a modest budget that included cash for tech, a boost for healthcare and a hefty handout to clean up the city’s public toilets, as he juggled a much smaller pile of cash than he had last year.

Chan on Wednesday announced the available fiscal surplus this year was HK$58.7 billion ($7.48 billion) — a figure well down on last year's HK$149 billion, thanks to a slowdown in the economy in the wake of the U.S.-China trade war and a cooling property market which dented land sale revenues. Still, the figure was higher than Chan’s original estimate of HK$46.6 billion made last year.