Important Analysis: Hong Kong Budget [ROLLING HEADLINE]

2/26/2020 10:20:00 AM
Here we added important headline from Hong Kong Budget

MEASURES:

  • Hong Kong Finance Secretary says Hong Kong is to have a record budget deficit next FY
  • Hong Kong Government is to hand out HKD 10k to each permanent citizen aged 18 or older, accounts for HKD 71bln of announced measures (In-fitting with earlier reports)
  • Hong Kong government announces HKD 120bln in fresh measures to bolster the economy

FORECASTS:

  • 2020 GDP growth forecast between -1.5% To +0.5%
  • Q4 GDP growth revised higher to -0.3% vs. Prev. -0.4%
CORONAVIRUS:
  • Hong Kong Finance Secretary says the new coronavirus in Hong Kong could further weigh on economic sentiment, consumption and tourism-related activities, HK may face a worse fallout than SARS
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