Budget Set To Improve Livelihood
Financial Secretary Paul Chan said the upcoming Budget will focus on improving people’s livelihood, supporting employment and economic growth, as the external environment is volatile.
Speaking to reporters today, Mr Chan said Hong Kong’s economic growth has been slackening, from 4.6% in the first quarter last year to 2.8% in the third quarter.
As some figures, such as export, already showed a slowdown or even declining trend in the fourth quarter, he anticipated the economic growth in the quarter will be below 1.5% and for 2018 as a whole 3% - the lower limit of the range forecast in last year’s Budget.
Looking ahead, Mr Chan said Hong Kong is facing a number of uncertainties in the external environment, such as the Mainland-US trade talks, Brexit, and geopolitical issues.
The Government will take note of these factors when preparing the Budget, he added.
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