Hong Kong's fiscal deficit forecast nearly triples to $12.85 billion due to falling revenues.

Hong Kong's Financial Secretary, Paul Chan, revised the city's fiscal deficit forecast for the year ending March to HK$100 billion ($12.85 billion), more than doubling the initial projection of HK$48.1 billion. The increase is largely due to a struggling asset market, which has reduced government revenue from land sales and stamp duties. The deficit is similar to the previous year's level of HK$101.6 billion.

December 02, 2024
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