Economy
BUDGET 2023: New spending plan backs Hong Kong’s recovery
BUDGET 2023: New spending plan backs Hong Kong’s recovery
Chief Executive John Lee said the budget measures will restore Hong Kong’s position as an investment hub.
BUDGET 2023: Hong Kong eyes higher cigarette tax
It was proposed to increase duty on cigarettes and other tobacco products by 60 cents per stick.
BUDGET 2023: $54.4b deficit seen in 2023/24
This is down from the estimated $139.8b deficit in 2022/23.
Budget 2023: FS Chan believes HK’s economy will rebound in 2023
He predicts the economy to grow by 3.5 to 5.5% for the whole year.
How can Hong Kong narrow down its fiscal deficit
KPMG China projected Hong Kong’s deficit to reach $120.9b in 2022/23.
Hong Kong deficit could hit $120.9b in 2022/23: KPMG China
This is double the government’s estimates of $56.3b, KPMG China projected.
Hong Kong welcomes anti-money laundering report
The report assessed the city’s anti-money laundering system as “compliant.”
Hong Kong may impose 100% tobacco duty increase: analyst
The market should also tax non recyclable plastic during the budget.
Volume of total exports down 32.3% YoY in December 2022
Imports of goods went down by 26.7% over 2021.
Economy contraction narrows in Q4 at 4.2%
In Q3, the economy shrank by 4.6%.
Hong Kong posts $183.2b deficit
Fiscal reserves stood at $773.9b.
Exports value fall 28.9% YoY to $348.1b in December 2022
The deteriorating external environment contributed to the fall.
Basic food products cost almost a quarter of Hong Kongers’ minimum wage
Employees earn a minimum of $7,500 net monthly.
Inflation up 2% in December 2022
Overall CPI rose by 1.8% in the previous month.
Businesses ‘slightly’ more optimistic about Q1
This could improve with the lifting of social distancing measures.
Unemployment rate falls to 3.5%
By the end of last year, the total unemployed was 126,000.
After China reopening, Hong Kong sees economy will pick up growth
Financial Secretary Paul Chan said the city is quickly returning to normalcy.
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