Hong Kong is on track to record the highest budget deficit in city history, but the perils of the coming year mean cash reserves must be kept high, according to Financial Secretary Paul Chan. Photo: BloombergHong Kong is on track to record the highest budget deficit in city history, but the perils of the coming year mean cash reserves must be kept high, according to Financial Secretary Paul Chan. Photo: Bloomberg
Hong Kong is on track to record the highest budget deficit in city history, but the perils of the coming year mean cash reserves must be kept high, according to Financial Secretary Paul Chan. Photo: Bloomberg

Hong Kong to record highest deficit in history as top officials argue city must ‘reserve financial strength’ to cope with storms ahead

  • Possible winter resurgence of Covid-19, ongoing US-China tensions mean cash reserves need to be kept strong, argue financial secretary and city’s No 2 executive
  • And while another round of pandemic financial relief is in the works, according to Paul Chan, it must be done prudently

Topic |   Hong Kong economy
Hong Kong is on track to record the highest budget deficit in city history, but the perils of the coming year mean cash reserves must be kept high, according to Financial Secretary Paul Chan. Photo: BloombergHong Kong is on track to record the highest budget deficit in city history, but the perils of the coming year mean cash reserves must be kept high, according to Financial Secretary Paul Chan. Photo: Bloomberg
Hong Kong is on track to record the highest budget deficit in city history, but the perils of the coming year mean cash reserves must be kept high, according to Financial Secretary Paul Chan. Photo: Bloomberg
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