Hong Kong budget deficit to be just under US$13bil

FILE PHOTO: A pedestrian walks past a residential development in Hong Kong, China, November 27, 2021. REUTERS/Lam Yik/File Photo

HONG KONG: Hong Kong’s deficit for this fiscal year is expected to be just below HK$100bil or about US$13bil, the city’s finance chief says.

The government is “focussing on cost-saving measures” to tackle the deficit, Paul Chan told residents on a programme on public broadcaster RTHK last Saturday, where he was gathering public feedback ahead of the upcoming budget.