Economy
How can Hong Kong narrow down its fiscal deficit
KPMG China projected Hong Kong’s deficit to reach $120.9b in 2022/23.
How can Hong Kong narrow down its fiscal deficit
KPMG China projected Hong Kong’s deficit to reach $120.9b in 2022/23.
Hong Kong deficit could hit $120.9b in 2022/23: KPMG China
This is double the government’s estimates of $56.3b, KPMG China projected.
Hong Kong welcomes anti-money laundering report
The report assessed the city’s anti-money laundering system as “compliant.”
Hong Kong may impose 100% tobacco duty increase: analyst
The market should also tax non recyclable plastic during the budget.
Volume of total exports down 32.3% YoY in December 2022
Imports of goods went down by 26.7% over 2021.
Economy contraction narrows in Q4 at 4.2%
In Q3, the economy shrank by 4.6%.
Hong Kong posts $183.2b deficit
Fiscal reserves stood at $773.9b.
Exports value fall 28.9% YoY to $348.1b in December 2022
The deteriorating external environment contributed to the fall.
Basic food products cost almost a quarter of Hong Kongers’ minimum wage
Employees earn a minimum of $7,500 net monthly.
Inflation up 2% in December 2022
Overall CPI rose by 1.8% in the previous month.
Businesses ‘slightly’ more optimistic about Q1
This could improve with the lifting of social distancing measures.
Unemployment rate falls to 3.5%
By the end of last year, the total unemployed was 126,000.
After China reopening, Hong Kong sees economy will pick up growth
Financial Secretary Paul Chan said the city is quickly returning to normalcy.
Export and import volumes drop double digits in November 2022
Prices, on the other hand, increased for both exports and imports.
Hong Kong fiscal deficit may reach $109b for FY2022/23: PwC
Spending will remain high due to the pandemic and geopolitical tensions.
Business situation improved in December 2022: gov’t
The diffusion index on business receipts for SMEs went up 46.1.
Government to provide Hong Kong fresh impetus
This is to boost the city’s economic growth, Financial Secretary Paul Chan said.
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