Hong Kong, Feb 23, 2025 (AFP) - Well-off Hong Kong daunted by record deficits

NAMPA / AFP

2025-02-23

Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles. The Chinese finance hub last saw a string of deficits after the Asian financial crisis in the late 1990s -- but their scale was a fraction of the HK$252 billion ($32.4 billion) shortfall in the 2020-21 fiscal year. Hong Kong has recorded annual deficits exceeding......

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