Hong Kong Financial Secretary Paul Chan is seen on a screen as he delivers his annual budget at the Legislative Council in Hong Kong February 26, 2020. — Reuters pic
HONG KONG, Feb 26 — Hong Kong’s economy is expected to expand at an average growth rate of 2.8 per cent in real terms from 2021-2024, Financial Secretary Paul Chan said today, as he announced his budget for the Asia financial hub.
Chan also forecast 2020 gross domestic product to range between a contraction of 1.5 per cent and growth of 0.5 per cent.
Hong Kong’s open and trade-reliant economy has been buffeted by risks, including the shock of often-violent protests in the second half of last year and the outbreak of a coronavirus in the beginning of this year. — Reuters