HONG KONG (Bloomberg): Hong Kong Financial Secretary Paul Chan announced a HK$120 billion (US$15.4 billion) relief package, in an effort to shore up economic confidence in a city battered by political unrest and the coronavirus.
The main feature of Chan’s annual budget announced Wednesday (Feb 26) is a payment of HK$10,000 to each permanent resident of the city 18 or older. He unveiled an official forecast for economic growth this year of between -1.5% and 0.5%, and confirmed a contraction of 1.2% in 2019.
Already a subscriber? Log in
5.5 PAYDAY OFFER: 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
