HK’s finance minister pledges bold spending to boost growth

HONG KONG: Hong Kong’s government is preparing to spend “boldly” to shore up the finance hub’s tumbling economy, Financial Secretary Paul Chan said in an exclusive interview.

“Given the large amount of fiscal surplus we’ve accumulated over the years I do think we have the capability and financial resources to help us come through this economic recession,” he said.While the government hasn’t made a decision on whether to pursue such a policy, Chan said such a move could trigger a deficit of more than HK$100 billion.

Since the unrest began, the government has announced a series of stimulus measures worth about HK$25 billion.

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Malaysia’s shadow economy worth 20pc of GDP, says finance minister | Malay MailKUALA LUMPUR, Jan 8 — Malaysia’s shadow economy is uncommonly high for a developing country, observed Lim Guan Eng. The finance minister said that in developing countries, the shadow economy normally takes up 12 per cent of the nation’s gross domestic product (GDP), but in Malaysia, that... Money games never die out!
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