'Govt To Spend HK$120b To Stabilise Economy'
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2021-02-24 HKT 11:12
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Financial Secretary Paul Chan on Wednesday said the government will introduce HK$120 billion in ‘counter-cyclical measures’ to try to stabilise Hong Kong’s Covid-ravaged economy.
He is delivering his latest budget blueprint at the Legislative Council, at a time when Hong Kong is facing a record budget deficit and near-record high employment.
The economy also contracted 6.1 percent in 2020.
Introducing his latest blueprint, Chan said the focus of his blueprint is to relieve people’s burden in addition to stabilising the economy.
He said it “seeks to create a leverage effect to benefit our people, workers as well as enterprises.”
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