News: Hong Kong studies increasing government recurrent expenditure to 2%

On December 3rd, Jinshi Data reported that Paul Chan, the Financial Secretary of Hong Kong, conducted a thorough analysis of the future economic prospects of Hong Kong in the Legislative Council. However, what caught the attention of many was his revelation that the comprehensive deficit for this fiscal year is expected to rise to approximately 100 billion yuan, far higher than the predicted 48.1 billion yuan in February. Chan Maobo revealed the solution: the market maker lies in cutting expenses, while increasing revenue is only a supplementary measure. It is reported that Hong Kong is considering increasing the practice of reducing government recurrent expenditure by 1% to 2% in order to free up resources for internal reallocation.