April 30, 2025 - 13:08
Hong Kong's Financial Secretary, Paul Chan, has announced a revision of the government's deficit forecast for the fiscal year 2024-25, now estimated at HK$80.3 billion, reflecting an 8% decrease from previous projections. Chan credits this improvement to a significant rise in stamp duty revenues generated from stock trading activities. The bustling stock market has contributed to higher tax collections, bolstering the government's financial outlook.
Additionally, Chan pointed out that departmental expenditures have been lower than anticipated, further aiding in reducing the deficit. This revised figure comes as a relief amid ongoing economic challenges, as the government continues to navigate post-pandemic recovery. The finance chief emphasized the importance of maintaining fiscal discipline while supporting economic growth and managing public finances effectively. The updated deficit projection is seen as a positive sign for investors and stakeholders looking for stability in Hong Kong's financial landscape.
