The Hong Kong government announced several fiscal stimulus to support the recession-hit economy, which was hurt last year by months of anti-government protests and recently by the coronavirus outbreak. Measures include a HKD 10000 cash payment to every permanent resident aged above 18; salary, profit and property tax cuts; cuts in examination fees for some students and in business registration fees. The total relief measures amount to around HKD 71 billion, and the government estimates the budget deficit for 2020/2021 to reach a record high of HKD 139 billion, equivalent to around 4.8% of GDP. In 2019/2020, Hong Kong recorded a 1.3% budget deficit, the first gap since the wake of SARS.
Government Budget Value in Hong Kong averaged 4051.38 HKD Million from 1976 until 2019, reaching an all time high of 115653 HKD Million in the fourth quarter of 2018 and a record low of -92344 HKD Million in the third quarter of 2019. This page provides - Hong Kong Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Census and Statistics Department, Hong Kong
Government Budget Value in Hong Kong is expected to be -97000.00 HKD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in Hong Kong to stand at -40000.00 in 12 months time. In the long-term, the Hong Kong Government Budget Value is projected to trend around 48647.98 HKD Million in 2021, according to our econometric models.