Hong Kong likely to see highest ever budget deficit

Hong Kong Financial Secretary Paul Chan

HONG KONG (Xinhua): Hong Kong is likely to see its highest ever budget deficit in the next fiscal year as it deals with the impact of the outbreak of novel coronavirus pneumonia as well as the social unrest in the past months, the city's financial chief said on Sunday (Feb 16).

In addition to the coronavirus outbreak, the local community has yet to fully recover from last year's social events. As a result, it is necessary to remain cautious on the short-term economic outlook and fiscal deficit is likely to remain for a period of time, Financial Secretary Paul Chan said in an article published on his official blog.