Hong Kong rolls out $15.5bn stimulus plan to boost economy

Financial hub forecasts GDP growth of 3.5% to 5.5% to end recession

Hong Kong Financial Secretary Paul Chan on Wednesday said the budget deficit for the fiscal year ending March 31 will reach HK$257.6 billion, a record for the city. © Reuters

MICHELLE CHAN, Nikkei staff writer

February 24, 2021 16:30 JST

Updated on February 24, 2021 19:27 JST

HONG KONG -- The Hong Kong government will introduce stimulus measures totaling 120 billion Hong Kong dollars ($15.5 billion) to jump-start the coronavirus-stricken economy in the new financial year.

Hong Kong Financial Secretary Paul Chan on Wednesday said the budget deficit for the fiscal year ending March 31 will reach HK$257.6 billion, marking the city's largest deficit on record due to coronavirus relief measures worth more than HK$300 billion rolled out over the past year.