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flag Hong Kong faces its biggest budget deficit in 30 years, with a $252 billion shortfall.

flag Hong Kong is grappling with its largest budget deficits in three decades, with a record HK$252 billion deficit in the 2020-2021 fiscal year. flag This financial strain, exceeding $20 billion in three of the last four years, is driven by factors including the pandemic and political tensions, causing a drop in tax revenue and increased spending. flag Experts advise careful economic measures as the city faces weakening growth.

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