Published:
Hong Kong's budget surplus pegged to hit 5-year low
It is estimated at HK$12b.
According to Barclays, Hong Kong's Financial Secretary John Tsang delivered his budget speech in Hong Kong last 26 February. Accoding to Barclays, Budget Surplus is estimated at HK$12bn, the lowest in five years.
Here's more:
In 2013, Hong Kong’s GDP grew 2.9% with headline CPI of 4.3% and underlying inflation at 4.0%. For 2014, the Budget expects GDP growth between 3-4% and headline inflation at 4.6% with underlying inflation at 3.7%.
Land sale proceeds came in at HK$84.1bn, 22% higher than the initial forecast. For FY 2014-15, the Budget forecasts land revenue of HK$70bn and an overall fiscal surplus of HK$9.1bn.
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