EY comments on Hong Kong Budget 2024-25 — Building confidence and vitalizing the economy with a balanced approach
HONG KONG, 28 FEBRUARY 2024 — The Hong Kong SAR Government (the Government) announced the Hong Kong Budget 2024-25 (the budget) today, in which a revised deficit of HK$101.6 billion will be recorded for the financial year 2023-24, which is almost double of their original forecast of HK$54.4 billion. Amid uncertainties in the global economic outlook, the Financial Secretary (FS) adopted a balanced approach in the budget to relieve people's hardship while simultaneously revitalizing the economy.