Economy
Hong Kong risks narrowing fiscal buffers amidst ‘sizeable’ spending plan
Hong Kong risks narrowing fiscal buffers amidst ‘sizeable’ spending plan
The city’s deficit is expected to remain wide for a longer period.
Consumer prices rise 2.4% YoY in January
The rate of increase picked up from December.
BUDGET 2023: HK faces ‘new stage’ toward economic growth
Secretary Chan added that the city’s financial system displayed resilience.
Budget 2023-24 aligned with government’s policy direction, says chief secretary
Some of the measures include consumption vouchers for eligible citizens.
BUDGET 2023: Hong Kong to allot $200m for New Energy Transport Fund
The government also plans a $350m subsidy to four in-harbour operators.
BUDGET 2023: HK to give $5k consumption vouchers to ease economic woes
The government will also hold off on increasing taxes.
BUDGET 2023: New spending plan backs Hong Kong’s recovery
Chief Executive John Lee said the budget measures will restore Hong Kong’s position as an investment hub.
BUDGET 2023: Hong Kong eyes higher cigarette tax
It was proposed to increase duty on cigarettes and other tobacco products by 60 cents per stick.
BUDGET 2023: $54.4b deficit seen in 2023/24
This is down from the estimated $139.8b deficit in 2022/23.
Budget 2023: FS Chan believes HK’s economy will rebound in 2023
He predicts the economy to grow by 3.5 to 5.5% for the whole year.
How can Hong Kong narrow down its fiscal deficit
KPMG China projected Hong Kong’s deficit to reach $120.9b in 2022/23.
Hong Kong deficit could hit $120.9b in 2022/23: KPMG China
This is double the government’s estimates of $56.3b, KPMG China projected.
Hong Kong welcomes anti-money laundering report
The report assessed the city’s anti-money laundering system as “compliant.”
Hong Kong may impose 100% tobacco duty increase: analyst
The market should also tax non recyclable plastic during the budget.
Volume of total exports down 32.3% YoY in December 2022
Imports of goods went down by 26.7% over 2021.
Economy contraction narrows in Q4 at 4.2%
In Q3, the economy shrank by 4.6%.
Hong Kong posts $183.2b deficit
Fiscal reserves stood at $773.9b.
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