Economics
Cash, Tax Cuts on the Table in Hong Kong’s Recession Budget
- All eyes on how the city’s ample reserves will be deployed
- ‘Tsunami-like’ economic shocks may provoke bolder action
Photographer: Chan Long Hei/Bloomberg
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As the Hong Kong government posts its first deficit in more than 15 years, all eyes will be on financial secretary Paul Chan’s budget release Wednesday and how he’ll tap cash reserves to stimulate an economy under pressure from months of unrest and the coronavirus outbreak.