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Hong Kong advised to increase bond issuance and utilize reserves to address budget deficit

share-iconThursday, January 09 comment-icon3 weeks ago 11 views
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scmpSCMP
Hong Kong advised to increase bond issuance and utilize reserves to address budget deficit

Credited from: SCMP

  • Hong Kong is facing a significant government deficit nearing HK$100 billion, with structural issues necessitating more than just economic growth to resolve.
  • A proposal from the University of Hong Kong’s Business School suggests issuing more bonds for infrastructure investments and increasing spending from reserves.
  • As of March, the city's reserves were about HK$734.59 billion, representing 25% of its GDP, one of the highest ratios among developed economies.
  • Experts warn that maintaining high reserves without adequate spending could be counterproductive and suggest reducing reserves through subsidies and tax relief.
  • The financial chief anticipates that it might take approximately three years to balance the budget, though some forecasts could be more optimistic depending on economic recovery.

For the full article, visit: SCMP.

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Hong kong Budget deficit Bonds Reserves Infrastructure investment Economic recovery
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A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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