Government finances are designed to withstand budget deficits during tough times, the city’s finance chief says. Photo: Winson Wong

Hong Kong budget deficit to increase next year, finance chief Paul Chan says, as government spending spree continues

  • Chan says another year in the red is no cause for concern with the city supported by HK$1.1 trillion in reserves
  • More financial pressure on the horizon with billions in new welfare spending taking effect in 2021
Topic |   Hong Kong economy

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Government finances are designed to withstand budget deficits during tough times, the city’s finance chief says. Photo: Winson Wong
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