Economics
Hong Kong Finance Chief Warns of Challenges From Fiscal Deficit
- Economic recovery needs to be consolidated, Paul Chan writes
- Financial secretary is set to make budget speech on Wednesday
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Hong Kong Financial Secretary Paul Chan warned that a fiscal deficit will present an obstacle to the city’s recovery from the pandemic.
“After three years of the pandemic and a weak external economy, a high fiscal deficit has accumulated so the economic recovery still needs to be consolidated and investment in the future needs to be supported,” Chan wrote in a blog post on Sunday.