Hong Kong Unlocks Future Fund to Cover Budget Deficits, Prompting Calls for Fiscal Discipline

Hong Kong's reserves consist of operating reserves, 7 designated funds, and the $354.7 billion Future Fund
The Future Fund makes up nearly 40% of reserves in 2023, up from under 20% in 2019
The Future Fund was created in 2016 to generate investment returns for long-term fiscal sustainability
Financial Secretary Paul Chan has brought back some Future Fund investment returns to cover budget deficits
Economists say the Future Fund has been unlocked and call for spending rules to ensure fiscal discipline