Putting Hong Kong back on its feet

HONG KONG (China Daily/Asia News Network): The Hong Kong Special Administrative Region may not feel so blue after all — the city’s budget deficit for the 2021-22 financial year will probably range from HK$400 million (US$51.2 million) to HK$37 billion — significantly less than the government’s forecast of HK$101.6 billion in February last year.

The projections are made by global auditing and financial services giants, including Deloitte, Ernst & Young Tax Services and PricewaterhouseCoopers, as well as accounting bodies like the Hong Kong Institute of Certified Public Accountants and CPA Australia.