Hong Kong Budget 2020: Deficit set to hit a record HK$139 billion next year, says finance chief

Hong Kong Financial Secretary Paul Chan has announced that Hong Kong’s spending exceeded income by around HK$37.8 billion in 2019-20 – the equivalent of 1.3 per cent of Gross Domestic Product (GDP). It marks the city’s first deficit in 15 years and a new record. See also: HK$10,000 cash handouts for all permanent residents over 18 […]