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KPMG Projects FY19/20 Govt Deficit $47.7B, Deepening Deficit for FY20/21
In the "Hong Kong Budget – Review and Outlook" report, KPMG expected the Hong Kong government to record a fiscal deficit of $47.7 billion for FY19/20 ending March 2...
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KPMG Projects FY19/20 Govt Deficit $47.7B, Deepening Deficit for FY20/21
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2020/02/18 14:34
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In the "Hong Kong Budget – Review and Outlook" report, KPMG expected the Hong Kong government to record a fiscal deficit of $47.7 billion for FY19/20 ending March 2020. This will be the first deficit in nearly 15 years, against an actual surplus of $68 billion in the previous fiscal year.

Alice Leung, a partner with KPMG China's Corporate Tax Advisory, predicted the FY20/21 fiscal deficit to deepen further, mainly because factors affecting Hong Kong's economy since 2H19 have not been fully reflected in government finance.
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