Posted 12/17/2023, 8:55:49 AM
Hong Kong Braces for Economic Headwinds Amid Geopolitical Uncertainty
- Hong Kong's finance chief warns belts may have to be tightened as economic growth slows
- Deficit for next year not ruled out due to complex geopolitical situation and weak asset markets
- Government to continue freeze on civil service headcount and cut expenditure
- Finance chief aims to boost revenue and attract innovation and technology enterprises
- Monetary authority head "cautiously optimistic" about economic outlook due to signs of recovery in China and potential soft landing in U.S.