Finance chief Paul Chan says the impact of the coronavirus outbreak on Hong Kong’s economy will probably be bigger than that during the Sars outbreak of 2003. Photo: Robert Ng

Coronavirus: Hong Kong may see biggest ever budget deficit next financial year amid ‘tsunami-scale blow’ caused by public health crisis, finance chief warns

  • Paul Chan says the city could remain in the red for ‘a number of years’ and the government will be cautious in boosting recurrent spending
  • But experts say there is no need to worry about a possible ‘record deficit’ as Hong Kong sits on huge reserves
Topic |   Hong Kong economy

TOP PICKS

Finance chief Paul Chan says the impact of the coronavirus outbreak on Hong Kong’s economy will probably be bigger than that during the Sars outbreak of 2003. Photo: Robert Ng
READ FULL ARTICLE