A day after Hong Kong announced its 2020/21 budget, credit ratings agency S&P warned the expected deficit could weaken Hong Kong’s fiscal health. Photo: Nora Tam

S&P expects ‘gradual weakening’ of Hong Kong economy amid looming deficit, increased spending, though credit rating holds firm

  • Credit agency predicts spending will continue to rise as city addresses underlying issues, including increasing societal divisions
  • Predicted 1 per cent contraction of economy falls within range estimated by government
Topic |   Hong Kong budget 2020-2021
A day after Hong Kong announced its 2020/21 budget, credit ratings agency S&P warned the expected deficit could weaken Hong Kong’s fiscal health. Photo: Nora Tam
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