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Well-off Hong Kong daunted by record deficits

februari 23, 2025by Reacties uitgeschakeld voor Well-off Hong Kong daunted by record deficits

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HONG KONG — 

Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles.

The Chinese finance hub last saw a string of deficits after the Asian financial crisis in the late 1990s — but their scale was a fraction of the $32.4 billion shortfall in the 2020-21 fiscal year.

Hong Kong has

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