Finance Chief: Hong Kong facing ‘Tsunami-Like’ shocks

A woman wearing a face mask sits at the waterfront against the Victoria Habour in Hong Kong on Sunday (Feb 16). Hong Kong is facing "tsunami-like” shocks, and may incur a record budget deficit in the next fiscal year as the city counts the costs of the Covid-19 (coronavirus) outbreak after months of social unrest, Financial Secretary Paul Chan said. - AP

HONG KONG: Hong Kong is facing "tsunami-like” shocks, and may incur a record budget deficit in the next fiscal year as the city counts the costs of the Covid-19 (coronavirus) outbreak after months of social unrest, Financial Secretary Paul Chan said on Sunday (Feb 16).

The impact of the epidemic on the Hong Kong economy is being felt beyond retail, food and beverage and tourism-related industries, Chan said in a blog post Sunday.