Hong Kong Budget 2021-22: Blueprint for Economic Recovery
Hong Kong Budget 2021-22: Blueprint for Economic Recovery March 10, 2021 Posted by China Briefing Reading Time: 5 minutes
Financial Secretary Paul Chan unveiled Hong Kong’s 2021-22 budget last month, which included a series of ‘counter-cyclical measures’ aimed at reducing the burden of individuals and enterprises in the city.
The HK$120 billion budget introduces policies designed to speed up the market recovery process, bolster digitalization efforts, and strengthen Hong Kong’s competitiveness in the Greater Bay Area (GBA).
In light of these government measures, Financial Secretary Chan forecast 3.5 to 5.5 percent growth for Hong Kong in the upcoming year, with the upper-end estimates mirroring the IMF forecast for the global economy in January 2021.