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The coming budget to indicate chances amid fiscal deficit
Hong Kong will see 2023 continue to be a year for economic recovery in a gradual process during the wake of the falling fiscal reserves and deficit during the post-pandemic, the city's financial chief said Sunday.
Financial Secretary Paul Chan Mo-po expressed his cautiously optimistic expectation about the economy when mentioning the city's budget proposal, which was due to unveil on February 22.
"The challenges we are facing this year come from the impact of the three-year pandemic, the downturn in the external economy, and the fiscal deficit that has accumulated during these years," Chan wrote in his blog today.
"Hong Kong is in need of more support for investment to promote the recovery of the economy," he said, "We will try every effort to issue measures to boost the economic performance despite the resources under strain."
Chan also stated that he selected orange for the cover of the budget speech, as representing that Hong Kong is embracing the sunshine of hope and opportunities.
"The challenges we are facing this year come from the impact of the three-year pandemic, the downturn in the external economy, and the fiscal deficit that has accumulated during these years," Chan wrote in his blog today.
"Hong Kong is in need of more support for investment to promote the recovery of the economy," he said, "We will try every effort to issue measures to boost the economic performance despite the resources under strain."
Chan also stated that he selected orange for the cover of the budget speech, as representing that Hong Kong is embracing the sunshine of hope and opportunities.
