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Hong Kong’s deficit is expected to hit nearly HK$100 billion (US$12.8 billion) in the 2024-25 financial year. Financial Secretary Paul Chan Mo-po has pledged to focus on curbing growth in recurring expenses and prioritising public works to rebalance the budget in the next three to five years. But is that enough to fix the snowballing debt? Post reporter Edith Lin sat down with Gary Ng, senior economist at Natixis, and Caspar Tsui, the executive director of The Federation of Hong Kong Hotel Owners, to discuss ways the city could tackle its deficit. Tsui is also the city’s former secretary for home affairs and the former undersecretary for labour and welfare of Hong Kong.
