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Stanchart Expects HK GDP to Grow by 2.2% in 2025, Calls on HK Govt to Tackle Fiscal Deficit by Broadening Income Source/ Cutting Costs
Recommend 7 Positive 12 Negative 5 |
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Stanchart released a macroeconomic forecast report for 2025 expecting Hong Kong's GDP growth to be 2.2% in 2025, and the CPI to rise by 2% YoY. Kelvin Lau, Senior Economist of Greater China at Stanchart, explained that the relevant forecast is mainly made based on the recent slowdown in the growth of Hong Kong's economic indicators, uncertainties faced by exports next year and the less-than-expected effect of the lower interest rate in boosting Hong Kong's economy. In addition, Lau believed that it is less likely for the Hong Kong government's revenue to stabilize significantly in the short term, and it will be more difficult for the government to resume break even in the next 1-2 fiscal years. Lau hoped that the government could solve the fiscal deficit issue in Hong Kong in a transitional manner by broadening source of income and cutting expenditure, and reducing overall government expenditure. AAStocks Financial News |
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