, Hong Kong

Hong Kong GDP predicted to edge up by 1-3% this year

Thanks to Budget 2015's "sweeteners".

The Financial Secretary recently announced the 2015/16 Government Budget, and this year’s Budget provided more sweeteners with total relief measures rising from HK$20bn to HK$34bn, equal to a fiscal stimulus of 1ppt to Hong Kong’s GDP.

According to a research note from Barclays, further, one to three percent GDP growth has been forecast based on this development.

Meanwhile, on the property front, although the Government noted the double-digit increase in small/medium flat prices, there were no new cooling measures as expected.

The report also said there were generally no surprises in the Budget but there was one potential negative.

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Further, in emphasizing the need to broaden its tax base, the Government brought up the 2006 public consultation on the introduction of a GST.

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