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Analysts propose solutions to tackle Hong Kong's escalating debt crisis

share-iconPublished: Thursday, January 02 share-iconUpdated: Thursday, January 02 comment-icon11 months ago
News sources:
SCMP
Analysts propose solutions to tackle Hong Kong's escalating debt crisis

Credited from: SCMP

  • Hong Kong's fiscal deficit is projected to reach approximately HK$100 billion (US$12.8 billion) in the upcoming financial year.
  • Analysts recommend issuing bonds and taxing non-residents on digital activities as means to diversify revenue.
  • The Hong Kong General Chamber of Commerce emphasizes the need for new revenue streams to support essential infrastructure projects.
  • To improve land sales, suggestions include dividing large parcels into smaller pieces to attract various investors.
  • Some experts advise the government to implement a broader tax net and consider economic conditions before introducing new taxes.

For more details, visit the original article here.

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Hong kong Debt crisis Fiscal deficit Taxation Land sales
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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