HONG KONG: Hong Kong is forecast to post a healthy fiscal surplus in its annual budget on Wednesday, with a series of one-off sweeteners expected to help businesses hurt by a slowdown in China, including the hard-hit retail and tourism sectors. Hong Kong’s longstanding Financial Secretary John Tsang isn’t expected, however, to unveil any sweeping new initiatives amid concerns the government’s reliance on one-off measures are failing to bolster the city’s economic fundamentals as it enters a period of slower growth and heightened political tensions. Tsang wrote on his official blog on Sunday that while sweeteners may only account for one per cent of Hong Kong’s annual budget, they provide an important boost for the local economy.
Hong Kong outlook
Published: 08:51 am Feb 24, 2016