Financial secretary attends budget consultation forum

Hong Kong Financial Secretary Paul Chan attended a consultation forum on the government’s next budget address. He said fiscal deficits will be revised downward to less than the initial estimate of 100 billion dollars on February 26th. The day the government’s Budget for the next fiscal year will be unveiled. The previous budget anticipated a government deficit of 48 billion dollars.

That estimate later went up to the tune of around 100 billion dollars in the red. Now, the Financial Secretary said the latest estimate may see a slight revision. He said driving down the deficit will be front and center in the new budget proposal. The administration now aims at balancing the books in around three to four years. They will dedicate resources to buoying the economy while trimming expenses.