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HK’s finance minister pledges bold spending to boost growth

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Paul Chan also rules out any change in Hong Kong dollar’s peg to the greenback. FMTNews

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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